Financing/accommodating your "midlife crisis"

I am turning 40 in a few months (yikes!). I know its a cliché, but I feel this strong need to spend some $$$ on something stupid, probably a fast car. Its hard to explain, but its just a reality of life I guess.

Here is the problem. I havn't budgeted / saved for this. I've been married for more than 8 years and my finances are pretty much completely transparent to my wife. I wish I had the kind of relationship where I could say, "Honey I need, NEED to spend $80k on a german sportscar", but I do not. We have 3 kids and wife is hell bent on saving money for college for the little ones.

I have 6 months. Taking on debt is not really an option. I feel like I can probably squirrel away $1000 a month, but I'm not sure that will be enought to fulfil my need.

I am open to suggestions. Advice how you may have justfified this expense to your significant other. Ways to get something fun for only $6000 or less. Ways to "hide" expenses like this. Also would be interested in hearing what others have done for their crisis.

When you go to the grocery store, start taking out 2-300 in Cash Back each time. It looks like grocery on statement, and you have cash in your pocket. Finance the car and make the payments with this method.

Maybe she won't let you drop $80k on a car, but would spending $6k on a trip somewhere cool be ok?
Get three close guy friends together, each put in $5k, and you now have $20k to spend on a really awesome experience (and you came in under budget!).

even if you saved 80k hiding from your wife, wouldn't your wife ask like "how did you get this new cool car, honey?" or you are planning to hide the car as well

H&B of course

Are you ready to be single again?

Do like my Dad. Home equity line of credit. Or not.

beatme said:   Maybe she won't let you drop $80k on a car, but would spending $6k on a trip somewhere cool be ok?
Get three close guy friends together, each put in $5k, and you now have $20k to spend on a really awesome experience (and you came in under budget!).

I second this. You can go to Vegas and rent a Ferrari for $500-ish a day. The OP will hate having to spend the upkeep on a sports car (tires do not last long, are $500+ each, you'll want to have the fluids replaced regularly, use good quality motor oil and filters, get pissed at any door ding, etc)

kinggofg said:   
I am open to suggestions. Advice how you may have justfified this expense to your significant other. Ways to get something fun for only $6000 or less. Ways to "hide" expenses like this. Also would be interested in hearing what others have done for their crisis.

Get a Harley instead.
The perfect vehicle for people with midlife crisis who can't afford midlife crisis sports cars.

How old are the kids?

Get a used pair of jet skis. You can have fun on your own, and you can have fun days on the water with the family. But remember, your buying them for the family...

Or get a motorcycle.

SUCKISSTAPLES said:   Agree with renting super cars in Vegas .
Owning an exotic car isn't fun, its a maintenance hassle

If you are determined to own , get something like the new CLA Mercedes that's $29900. Your wife will probably drive it more than you

vegas in general for all types of crises.

kinggofg said:   I am turning 40 in a few months (yikes!). I know its a cliché, but I feel this strong need to spend some $$$ on something stupid, probably a fast car. Its hard to explain, but its just a reality of life I guess.

Here is the problem. I havn't budgeted / saved for this. I've been married for more than 8 years and my finances are pretty much completely transparent to my wife. I wish I had the kind of relationship where I could say, "Honey I need, NEED to spend $80k on a german sportscar", but I do not. We have 3 kids and wife is hell bent on saving money for college for the little ones.

I have 6 months. Taking on debt is not really an option. I feel like I can probably squirrel away $1000 a month, but I'm not sure that will be enought to fulfil my need.

I am open to suggestions. Advice how you may have justfified this expense to your significant other. Ways to get something fun for only $6000 or less. Ways to "hide" expenses like this. Also would be interested in hearing what others have done for their crisis.

This is not a FINANCE question, but rather a marriage/family relationship situation. Most FWF members will tell you not to drop $80K on a midlife crisis whim in the first place, let alone giving you advice on hiding assets from you wife, which may result in a divorce, which will be the second financial disaster.

Squeezer99 said:   beatme said:   Maybe she won't let you drop $80k on a car, but would spending $6k on a trip somewhere cool be ok?
Get three close guy friends together, each put in $5k, and you now have $20k to spend on a really awesome experience (and you came in under budget!).

I second this. You can go to Vegas and rent a Ferrari for $500-ish a day. The OP will hate having to spend the upkeep on a sports car (tires do not last long, are $500+ each, you'll want to have the fluids replaced regularly, use good quality motor oil and filters, get pissed at any door ding, etc)

Another idea along the same lines is to sign up for a performance driving class, like this. You'll get to drive $80K german sportscar, get it out of the system and spend only a couple thousand at the end.

Nsx. Used M3. Hell, Miatas are incredibly fun cars. Get one and drive it like you stole it. Most folks I know who own 80k-value cars drive them like old ladies and drop a ton of dough on maintenance and cleaning. You can track a miata and outrun MUCH more expensive cars.

Or go skydiving, hot-air ballooning, bungee-jumping, etc. All of that will put your life in perspective for less than 6k

Buy the car and shout out "YOLO" while leaving the dealership.

bigdinkel said:   Buy the car and shout out "YOLO" while leaving the dealership.
You say no to ratchet women , SIS can't !

kinggofg said:   I am turning 40 in a few months (yikes!). The old folks here take offense when you call 40 "midlife"

I must not have that gene in my DNA. I never had the desire to blow a bunch of money when I turned 30, 40, or recently 50. (Course, we never had kids either, so maybe that is part of it)

First realize that that its a want not a need... Then you'll make a better foolish decision.

kinggofg said:   . Ways to "hide" expenses like this.

Spouses find out about hidden expenditures. They will assume that such money is spent on:

a) hotel rooms or a little love pad someplace;
b) sleezy lingerie in a size too small for them to wear;
c) jewelry to keep the young skank interested in her sugar daddy; and/or
d) drugs; and/or
e) a little gambling problem.

All of this can lead to a lot more intense excitement and emotional upheaval in your life than trying to realize a silly little fantasy, but unfortunately, involving rather negative emotions. But you may end up afterward being able to buy whatever you like, from what's left of your paycheck after deductions for child support and ex-spousal maintenance.

Tell your wife you want some sort of midlife crisis reward, not just for you, but for the two of you. Someone else mentioned this, but consider an used Miata - as long as you haven't spoiled yourself on something a lot more powerful and expensive, I think you'd have a very hard time finding something more fun to drive than a Miata. Between its small size, light weight and overall excellent sports-oriented engineering, they have the remarkable benefit of making you think you're going a whole lot faster than you really are, which, of course, attracts a great deal fewer speeding tickets than cars that are actually going 30mph faster than you thought they were. Take your wife with you as you test drive a few Miatas and give her the first drive. She'll think "It's sooo cute!" and then you hit her with "I have to say, you look really hot behind the wheel in that. I swear that car makes you look 5 years younger." Then all you need to do is make sure you have enough space cleared out for a 3/4-sized car in your garage.

lol...I can't believe there is a thread about this! I turn 40 in July and I am doing the same thing...shopping for a sports car. I set a budget though and started planning last year. I am going to spend $18k or less on a used two-seater convertible! I live in the North East so I am keeping my current car and getting this to only drive in the summer. I figure I will keep it two years and get rid of it. Anyone who went through this last year want to sell me the car they bought for their "midlife crisis"?