The Average Mid-Life Crisis Costs Brits Over £7,000 On Average

The average mid-life crisis will cost Brits £7,712.39, it has been revealed.

A new study of 2,000 UK adults over the age of 40 has found that nearly forty per cent believe they have experienced some kind of life crisis.

And mid-life crises are almost as common in women as in men, with 39 per cent of females suffering a waver in middle age compared to 40 per cent of men.

An urge to travel is the most costly aspect of a mid-life crisis, setting respondents back an average of £1471 each.

However, six in 10 Brits believe that a crisis can be a good thing, giving the opportunity to break away from scenarios that cause misery, and a chance to set new goals.

Olivia Hill, Chief HR Officer at AAT (The Association of Accounting Technicians), the organisation which commissioned the survey, said: “This study found that a huge proportion of the country has felt anxiety about the direction their life has taken.

“And one of the most common causes for a mid-life crisis is dissatisfaction in the workplace.

“At AAT we often see people who are studying with us have moved from a career they are not happy with, to make a positive change in their lives.

“Perhaps more people should consider a change of career not just to enhance their earning potential or improve their work/life balance, but to avoid the stresses and strains of a mid-life crisis.”

A third of respondents admit to feeling “Sunday night dread”, where they fear what the working week ahead of them may hold.

And, worryingly for managers who want to retain staff, 22 per cent say they definitely won’t be working for the same company in 10 years.

The single most common way to tackle a mid-life crisis is a change of career, with a quarter of Brits switching employers after the age of 40.

The average mid-life crisis begins at the age of 43 years, one month and three weeks, and most respondents pinned the years between 31-40 as the best of their lives.

22 per cent said their mid-life crisis came shortly after they started noticing when policemen and politicians were younger than them.

Half of the country believes that a lack of money is what’s prevented them from having “the perfect life”, and a third say a lack of self-confidence has held them back.