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In difficult economic times, most people are tightening their belts and restricting their spending to absolute essentials…that is of course, providing you consider a suit of armor an essential requirement.

When applying for a loan, the lender generally asks the reason for the finance, expecting to be told the money is for home improvements, a new auto or possibly to cover the cost of getting hitched.

In recent times, some people have asked their bankers to provide the collateral for them to undergo cosmetic surgery, with boob jobs and liposuction commonplace.

However it seems that not everyone opts to borrow money for such mundane purposes as a glimpse into the banking world has revealed a plethora of weird and wacky reasons for the request for cash.

Many of the cheapest loans on the market would not be available to those wanting funds for less standard reasons but it seems the increased cost did not deter people from applying.

One of the oddest motives for getting hold of more ‘moolah’ was the apparent need to purchase a suit of armor, not an everyday requirement for most people. The would-be knight was not going for the cheap Wal-Mart-option either, the armor was clearly of the designer kind at around $8000.

Everyone knows that foreclosures are on the increase and rental costs are rising, but this still doesn't quite explain a $32,000 request to turn a dark and dank cave into a des-res.

Animals appear to feature quite heavily in the banking world's list of less common reasons for finance and not just to buy a pedigree pooch.

Apparently to purchase a camel, an individual would need to borrow around $24,000 whilst a black stallion would cost $16,000. A Bengali tiger was also considered desirable accessory by another applicant.

The longing for a different lifestyle prompts some to approach banks hoping for the cheapest loans, with one infamous individual brazenly telling the salesman that she wanted to win an online auction to date a well-known footballing star.

People who wanted to ensure they left a mark on the world but didn't have the money to live their dreams also resorted to loan applications to fund their fantasy.

In this particular example, the ultimate thrill was not sailing round the world, experiencing a trip to space or exploring the far flung corners of the globe…it was the ambition to bake the world's largest cake.

Another hopeful applicant wanted to build a top-notch automaton so he could win the TV show, Robot Wars.

A 40 year old man in the UK wanted the chance to live out one of his unfulfilled childhood dreams and planned to use the loan money to travel to the US to meet Mickey Mouse.

Some motives for requesting funds were far more practical, if somewhat surreal. Wanting the opportunity to live forever is a hope that a lot of people share, but one loan applicant wanted to borrow the funds to secure his place in a cryogenics program so that his body could be frozen in time.

Whilst many of these reasons may sound funny and no doubt led to the loan being declined, it makes you wonder how many individuals tell lies about the real reason they want the money, just to ensure they qualify for the cheapest loans possible and get the cash agreed.

This has been a guest post from Money Supermarket.