The Drawbacks Of Being A Boomerang Kid

Today's post comes from Ypulse team member Casandra Liggin.

The Drawbacks of Being A Boomerang Kid

Boomerang KidsThe day I left to go to college, I knew there was no looking back. As my parents drove away and left me all alone in my dorm room, I knew the adolescent chapter of my life was closing for good. Sure, my parents would have let me come back home if I had experienced a major medical emergency, but anything short of that was pushing it. They had been prepping me for independence from the time I entered high school. I knew it was my duty to not only graduate with a degree, but also graduate with the type of degree that would allow me to be 100% self-sufficient. Going back home just wasn’t an option and I’m not so sure that was a bad thing. 

I’m an Xer, but for Millennials today, going home may be their first option. Yes, many members of this generation have been fondly described as “boomerang kids” because they are returning home after college for not a week or even a month, but to stay indefinitely. A recent Pew study reports that 41% of adults between 25 and 29 are now living or have lived recently, with their parents. Several are doing this because of the recession and the lack of self-sustaining jobs, while others truly don’t mind going back home to live with their parents. Millennials consider their parents to be their friends and a part of their primary support network. I’m also sure living at home provides more comfort than sleeping on a friend’s couch.

Other Millennials are pained by the idea of settling for a less than ideal occupation rather than pursuing their passions. I think passions are wonderful, I truly do. But I also believe in working until one can draft the desired path to achieve their passion. Work experience of any kind is extremely valuable as it teaches you…

 
 

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“Most of the role models and leaders in my life have been Gen Xers so far."

–Male, 16, WI

Instagram has reached 700 million active users, and its growth has been speeding up. The app hit the new user mark just four months after reaching 600 million, and the introduction of Instagram stories in August may be a major contributor to its accelerated growth. The feature has a reported 200 million daily active users compared to Snapchat’s 161 million. Overall, Instagram now has twice the user base of Twitter and is quickly approaching the coveted 1 billion user mark that Facebook, WhatsApp, and Messenger have reached. (TechCrunch)

Millennials are using social media and YouTube to decide what to buy. A U.K. study found 32% of 18-24-year-olds are using social media to research their purchase decisions before checking out, and 25% are using video platforms like YouTube. There are also signs they’d like to search for products on social media: 25% of U.K. 18-24-year-olds reported the desire to search media based on their lifestyle and 23% would like search to understand their current mood. These findings, paired with the detailed targeting available to advertisers, are changing the consumer journey from search query to cart. (AdvertisingWeek)

Millennials are keeping 70% of their money in cash, reluctant to invest in anything, from stocks to their own retirement plans—according to new BlackRock research. Clearly impacted by the Great Recession, Millennials are most likely to agree, "What you might earn investing isn't worth the risk of losing your money," and a third say “they learned what not to do with their money” from watching their parents. They also tend to undervalue the potential returns of investments by millions of dollars, which is not good news for their futures—at their current rate, most Millennials will have less than $1 million saved for retirement. (TheStreet)

Influencer marketing is proving its worth. Though marketers have worried about determining ROI with the approach, one report is claiming it’s more effective than advertising alone, showing a direct lift in results rates of up to 30%. Across 450 influencers and 11 campaigns, the expansive research compared results from consumers exposed to ads featuring influencers versus control groups, overwhelmingly showing increased action when an influencer was involved. Good news for marketers, who spent $570 million on influencer marketing on Instagram alone last year. (Adweek)

The Amazon Echo can now help pick your outfit—and tell you when you don’t look good. LED lights and a depth-sensing camera will let the new Echo Look take pictures of any look, and “Style Check” software “combines machine learning algorithms with advice from fashion specialists” to evaluate which outfit is best, and lets you compare pictures of multiple outfits, from multiple angles. Amazon’s already extensive product recommendations could feasibly be a part of this product’s future—and, if all goes well, a drone will ship the recommended new clothes to your door. (Quartz)

“I want to work for myself so that I can have more flexibility and be my own boss. I have an online business.”
—Female, 16, FL

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