Millennials have it so bad they think they can't even afford a midlife crisis.

Buying sexy sports cars, changing hairstyles, and finding a mistress used to be the classic signs of a midlife crisis—at least for older generations. But millennials have it so bad in today’s economy that they think they’re too poor to allow themselves the breakdown their predecessors were mocked for, a new psychology study shows.

Of more than 1,000 millennials who were surveyed, 81% of them reported they can’t afford to have a midlife crisis, which Thriving Center of Psychology defines as either dramatically gaining or losing weight, consuming more alcohol, attending therapy, changing appearances, or taking on a new hobby.

Many people who undergo a midlife crisis also experience anxiety, depression, loss of purpose, sadness, and burnout, according to the study. But while the midlife crises of the baby boomer generation may have been defined by a fear of getting older or panic about major life changes, younger generations experience a different set of worries.

The midlife crisis for millennials is rather a “crisis of purpose and engagement,” Steven Floyd, owner of SF Psychotherapy Services, tells Fortune. “A generation that was encouraged to work hard and shoot for the stars—they got there and wondered: am I satisfied? Do I even care?”

Why millennials ‘can’t afford’ a midlife crisis

Midlife crises of the past were usually defined by lavish spending—whether on expensive cars, extended vacations, cross-country or cross-world moves, or costly cosmetic surgery. But millennials face a challenging economy that makes it difficult for them to afford a traditional midlife crisis, Mason Farmani, a personal life coach at Farmani Coaching, tells Fortune.

Millennials, who were born between 1981 and 1996, earn 20% less than baby boomers did at their age, Farmani says. Plus, they’re “burdened with student loan debt, a challenging job market, and rising housing costs, which diminish their ability to establish financial stability.” Millennials are delaying all kinds of milestones, including buying homes and having kids, thanks to high housing costs and inflation, which also limits their ability to spend carelessly on a midlife crisis.

However, some experts argue that it’s not that millennials can’t afford a midlife crisis—it’s just that this inflection point in life may just look different from past generations.

“While the classic image of a midlife crisis may involve extravagant spending, it’s the underlying emotional and psychological turmoil that truly defines the experience,” Andrew Latham, a certified financial planner, tells Fortune. “Whether it’s splurging on luxury items or making impulsive life changes, the essence of a midlife crisis lies in the quest for meaning, identity, and personal fulfillment—not on the balance of your checking account.”

While a shiny new sports car or extravagant vacation might be classic examples associated with a midlife crisis, millennials may make smaller, but discretionary purchases during that time period.

“Someone experiencing a midlife crisis might impulsively splurge on a wardrobe overhaul, undergo cosmetic procedures, or embark on spontaneous travel adventures—all without necessarily having significant savings or wealth,” Latham says. “These behaviors are often driven by a desire to recapture youth, find meaning, or escape feelings of stagnation—rather than by careful financial planning.”

Indeed, while millennials may not face a “traditional” midlife crisis—one that looks similar to their parents—it doesn’t mean they’re not going through major life changes.

“The term ‘midlife crisis’ may need to be redefined in the context of this generation’s experiences and circumstances,” Farmani says.

It’s not all about the money, though

While a majority of millennials reported they don’t think they’re able to afford a midlife crisis, others aren’t as concerned about the financial aspect of it. Indeed, millennial business owner Katya Varbanova, CEO of Viral Marketing Stars, tells Fortune that she worked hard in her twenties and saved up an emergency fund that would allow her to take a year or two off whenever she wants to.

Still, Varbanova says she’s also experienced the signs of a midlife crisis, including depression, anxiety, loss of purpose, and losing her identity—a lot of which she blames on being chronically online.

“Lately, there has been so much rage-baiting content, it can really impact your mental health,” she says. Plus, other real-life factors have contributed to the feelings of a midlife crisis. “Of course, sometimes life just happens, whether it’s a health issue, a breakup, a personal disaster. I’ve had to overcome both of those.”

Varbanova predicts that millennials will continue to reshape what a midlife crisis—or major life changes—look like. She thinks more millennials will pursue self-employment and entrepreneurship in order to improve their financial stability.

“We’re the first generation that realized that money isn’t worth it if it costs you your soul and freedom,” Varbanova says. “I believe millennials truly crave both.”