The symptoms of a mid-life crisis in both men and women are not difficult to miss. The person in question typically starts to dress in inappropriately young fashions, takes out a loan to pay for a flashy motorbike or sports car, acquires a new tattoo and then makes plans to travel to Africa to climb Mount Kilimanjaro. It happens to a lot of people, perhaps as a result of being stuck in a stifling job or marriage for a number of years, but whatever the reasons underlying your mid-life crisis, should you wish to splash out on a motorbike or plan a trip to a Buddhist monastery in Tibet, bankruptcy should not be an option.
I Hate My Job and I Want to Travel the World!
If you have just spent twenty years working in a bank or similar, who can blame you for wanting a way out, which is why it is not uncommon for middle aged people to experience a sudden urge to travel abroad to discover new horizons. Some come back after a few weeks feeling thoroughly rejuvenated and ready to kick-start their career once again, whereas others discover a passion for travel or someone new, and want continue on their epic voyage of self-discovery.
How Can I Fund a Trip Abroad?
Depleting your pension fund to pay for a gap year is not the answer and nor is selling your home unless you want to deliberately make yourself homeless. So unless you plan on setting forth over the horizon with no money whatsoever, you need to look at a loan or come up with another way of generating some cash to keep you going for a while and pay any bills you leave behind.
Ways to Generate Some Extra Cash
- Personal loans are probably the best way to fund a few frivolous purchases when middle age hits. A personal loan is ideal if you need a few thousand pounds to spend on a fancy sports car or motor bike – you can choose exactly how much you want to borrow and then repay the cash over a set period of time. As long as you don’t default on the repayments, you can enjoy the pleasure of knowing that by the time your loan has been paid off, your desire to live the dream should have been well and truly vanquished.
- Payday loans are only for those who need a short term loan, typically for less than one month. They are designed to give you cash for a few days, a week, or a month, but because the interest rates are very high, they are not suited to those who need money over a longer period of time. However, if you feel you can’t live another day without a cosmetic surgery treatment, but your money is tied up elsewhere until the end of the month; payday loans could be the answer.
- Credit cards are the ultimate loans vehicle for those who like instant gratification. As soon as you spot the holiday of your dreams in the travel agent’s window, you can hand over a credit card and worry about paying back the money later, once the memories of your adventures trekking across the Kalahari Desert have faded. If you take out a new card with an interest free deal attached, credit card loans don’t even need to cost you anything.
Can I Borrow Money from Family and Friends?
A mid-life crisis is often accompanied by depression and the feeling that life has somehow passed you by. For many people, this is the hardest aspect of a mid-life crisis to deal with, but for family and friends, it can be even more difficult to see their loved one sitting around, listlessly wondering how it is they have ended up at forty-something with very little to show for their youthful dreams and ambitions. So if you need to do something crazy or have a dream that just won’t go away, temporary loans from family members or close friends might be a temporary solution. As long as you are not looking to borrow money from someone who can’t afford it, it should not be a problem and once you have gotten your mid-life crisis out of your system, you can revert back to normal life and pay back the cash.