In the turbulent economic environment, money is losing its value. Consumers are reevaluating their spending across sectors. With a looming crisis of trust in financial institutions, how are people managing their budgets? And how can brands navigate the complex relationship between value and cost?

Aware of hidden agendas, people no longer believe in the possibility of absolute truth or complete transparency from institutions, public figures, and individuals. Yet they are still drawn to honesty, integrity, and – at times – even vulnerability, which they expect from peers and brands alike.

Americans’ growing insecurity about finances is turning BNPLservices into a popular option, but how wary are consumers about the fine print? Having tracked this behavior in our Money Sector Snapshot, Canvas8 spoke to nine Americans to understand their attitudes towards short-term borrowing.

Gen Yers and Zers are turning to payment services like Klarna, Afterpay, and Laybuy to help their wallets keep up with their shopping habits. But due to a lack of education regarding financial responsibility, how are these ‘buy now, pay later’ services impacting their financial futures?

A study has shown troubling patterns in the habits of buy now, pay later (BNPL) users, revealing a 50-point gap on average between those who frequently use the services and those who do not. The cost of living crisis has driven up BNPL debt among Gen Zers looking to brands for financial leadership.