HELP!!!!! How do I know if this PSAT score is good??

Not even close to qualification for scholarships. For scholarships you need around a 200+ (if you live in a state with not too many people like Wyoming) or 220+ (if you live in a state like NY, TX, or CA). The test is out of 240. 161 is better than average but not too great. Your PSAT has little or no effect on your college admissions.