For many Monterey County residents, looking back at last year’s spending can feel daunting. Between high housing costs, rising insurance premiums, tourism-driven prices and the everyday expense of living on the Central Coast, it’s easy to feel like your money should have gone further. But reviewing last year’s finances isn’t about asking, “Why didn’t I do better?” It’s about asking, “What can I learn?” A money autopsy — done thoughtfully — can help you make more realistic decisions for the year ahead without guilt or second-guessing.
Step 1: Gather the evidence — No judgment required
Gather bank and credit card statements, digital wallet and payment app summaries, and any cash spending notes you may have kept. If you live in Monterey, Pacific Grove, Seaside or Salinas, you already know that baseline costs — such as rent, groceries and gas — are higher than the national average. Keep that in mind as you review the numbers.
At this stage, you’re not evaluating. You’re observing. Think of it as data collection, not self-criticism. You can’t make good decisions without good information.
Step 2: Group spending based on how you actually live
Instead of using only standard budget categories, add a second layer based on how spending shows up in your daily life, including:
Essentials – Housing, utilities, groceries, insurance
Commuting and mobility – Gas, car maintenance, parking, rideshares
Convenience spending – Takeout, delivery, last-minute purchases
Lifestyle and local enjoyment – Dining out, events, short trips
Stress spending – Impulse purchases during busy or uncertain periods
Remember, a higher food bill may reflect fewer chain-store options, tourist pricing or long workdays — not poor discipline.
Step 3: Look for surprises, not “mistakes”
When totals are higher than expected, pause before labeling anything a mistake. Frame your questions in a way that fosters introspection, not guilt. Ask yourself:
What costs surprised me the most?
Which expenses felt small week-to-week but added up over the year?
Where did I underestimate the true cost of living locally?
In Monterey County, many people underestimate the degree to which seasonal tourism, gas prices and insurance increases quietly affect their finances. Uncovering surprises helps you to better determine what can be adjusted in the year ahead — and what can’t.
Step 4: Compare spending to real life, not an ideal situation
Many financial plans fail because they’re built for a lifestyle that doesn’t exist. It’s imperative to be honest in this process. There are inevitable expenses that can’t be dramatically adjusted because they’re related to your work or commute. There will also be expenses that bought you time, convenience or relief that may be worth it. However, there are likely many expenses that were incurred out of habit rather than intention, and those should be the first you address.
If you work irregular hours, commute long distances or juggle multiple responsibilities, convenience spending may not be a waste — it may be a trade-off. The goal isn’t perfection. It’s alignment with your goals.
Step 5: Decide what’s worth keeping
Instead of starting with cuts, start by finding value. Look at the things that improved your quality of life, allowed you to enjoy the reality of living on the Central Coast and reduced stress or freed up valuable time.
Maybe that’s dining out locally once a week, taking short trips, or paying for services that save time. Identifying what adds value makes it easier to adjust what doesn’t.
Step 6: Make small, realisticadjustments
Living in the Monterey area means making big, dramatic budget changes often isn’t realistic. Focus on smaller goals, like choosing one category to gently cap, picking a habit to adjust, or removing one expense for 30-60 days. This could mean limiting food delivery to the weekends, cutting underutilized subscriptions or planning ahead for tourist season price spikes. Small changes work better than strict rules — and they’re more likely to stick.
Step 7: Close the review and move forward
Once you’ve reviewed last year’s spending and made a few intentional decisions, stop. Don’t keep replaying the numbers. A money autopsy has one purpose: to help you make clearer choices going forward.
Living in Monterey County is expensive. Feeling frustrated about that won’t change it. Understanding how your money moved last year — and adjusting accordingly — just might. And that’s progress.
Zach Harney is a Wealth Manager at Creative Planning. He welcomes questions you may have concerning investments, taxes, retirement or estate planning. Send your questions to: Zach Harney, 2340 Garden Road, Suite 202, Monterey, CA, 93940. Or you can email zach.harney@creativeplanning.com. This commentary is provided for general information purposes only, should not be construed as investment, tax or legal advice, and does not constitute an attorney/client relationship. Past performance of any market results is no assurance of future performance. The information contained herein has been obtained from sources deemed reliable but is not guaranteed.
