If you struggle to meet unexpected expenses, what are you doing leasing an X5 and driving a collectible Porsche 911? Sorry dude, but you have choices. And not being able to afford home contents insurance because your contents are too valuable is the most screwed up logic I've ever heard. I could easily afford a BMW. I drive a used Honda Civic however (which I sought for six months because I was not prepared to pay more than a certain price, and which was carefully selected for having a depreciation lower than the rate at which it was paid off, so that if I suddenly needed to ditch it for financial reasons, I'd still come out on top. I even have a 'plan B vehicle choice': if I need money I can sell the Honda and buy a used Mk.1 Skoda Fabia TDI instead, for a fifth of the price), because I want to keep some financial room for manoeuvre in case of unexpected expenses. We live in a modest house in a modest neighbourhood. I recently spoke to someone who is going crazy with worry because their jobs are at risk and they have a mortgage 2.5 times as much as ours (they live in a snazzier part of town), whilst their combined income is less than ours. My wife's job is at risk too, but thanks to some prudent financial planning, if she does lose it we will hardly feel the impact. I mean, you have to live within your means. If owning two flash cars and expensive stuff gets you financially unstuck at the first crisis, you are not living within your means.