Family & Parenting

Millennials Are Having Early Midlife Crises

We’ve all heard about or are familiar with the concept of the midlife crisis. The dreaded midlife crisis usually occurs when you’re well over thirty-five, and could actually cost thousands of dollars. Unfortunately, millennials seem to be experiencing their midlife crises much earlier than we’re typically used to seeing. Why is this happening, and what are the major side effects of having such an early midlife crisis?

INCREASED PRESSURE

One of the biggest factors that leads to early mid-life crises is the increased pressure that today’s society brings about. Student loan debt is extremely high, and is a real problem for a lot of millennials. This debt adds an immense amount of pressure to find a job and succeed right out of college, because if you fail you can find yourself in a huge financial hole. When people fail to find a job, or if they find a job that doesn’t meet their expectations, then they begin to question their identity and find themselves at a crossroads. However, financial pressure isn’t the only thing that is driving millennials to an early midlife crisis. Forming relationships and meaningful personal connections seems to be harder than ever. Mobile dating apps have taken over how millennials interact, and it has had a negative effect. Divorce rates have skyrocketed as millennial marriages quickly fall apart. With immense financial and social pressure causing millennial to question their identity and all the decisions they’ve made, it’s no wonder that their midlife crisis hits them early.

LACK OF IDENTITY

One of the biggest symptoms of a midlife crisis is the questioning of one’s identity, or feeling like you lack an identity at all. Today’s society has taken that feeling and amplified it by a large amount. We live in a world where social influencers dominate our news feeds and timelines, and just about everyone wants to emulate them. Eventually we get to the point where everyone sacrifices their identity just to fit in with everyone else. However, eventually everything comes crashing down and you get the feeling that you have completely sacrificed what makes you unique. That is why people in a midlife crisis will go out and get a tattoo or will do something crazy with their hair, just so they can stand out and regain their identity.

URGE TO SPLURGE

Another big symptom of a midlife crisis is the desire to spend an excessive amount of money in order to satisfy one’s needs. This is especially troubling for most millennials that experience an early midlife crisis, as they typically are still swamped with student loans and still do not have a stable source of income. However, that doesn’t stop some millennials from purchasing a new car or looking at houses for sale in Dallas,TX. This can often lead to a vicious cycle, as the new debt you have acquired causes even more financial pressure, causing you to fall deeper into your crisis. Even if you feel like the walls are closing in and the pressure is mounting, you need to avoid the urge to spend excessively. Having a crisis at such a young age can be detrimental to your financial future, and could put you into a financial hole that could take decades to get out of. Make sure you’re careful with your money and budget properly, so you can come out of this phase stronger than ever!

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