"Nearly everyone has engaged in some kind of financial planning, whether they know it or not," Ramassini said.
Wedding planning is a good example. "If you want to have a reception, different elements go into that," he said, and it all goes toward the prime goal of getting married. "As everyone starts coming together, there are competing priorities."
For some people, flowers are extremely important. For someone else, it might be having a specific DJ or a particular venue.
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"You have to prioritize, you have to make decisions," Ramassini said. "The vast majority don't have the money to say 'yes' to everything on their list.'
Next, you look at the money you have and decide how to allocate. You may choose less-expensive flowers so you can afford the lakefront hotel.
That's how financial planning is personalized. "It's what is most important to you," Ramassini said. "Laying out your goals and objectives to get some estimate as to what things will cost, and looking at the resources to see how you'll pay."