The circle represents your life, the whole of you. The pieces of the pie, or spokes, are the parts of your life: the areas, roles, or aspects of the whole.
The purpose is to help highlight issues or areas of imbalance that need addressing. The Wheel of Life is powerful because it gives you a vivid visual representation of the way your life is currently, compared with the way you'd ideally like it to be.
Give each area a score on the scale of 1 to 10.