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‘Buy now, pay later:’ a replacement for the millennial lifestyle subsidy?

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What makes "buy now, pay later" so attractive?porcorex/dblight/Getty Imageshide caption

It's Been A Minutehost Brittany Luse is in dire need of a new couch.

"I can feel the frame through the padding – it's rough," she said. "I'm not even inviting my friends over because I don't want them to sit on this couch. They deserve better than this!"

But she said every time she finds a nice enough couch online, she chokes when she gets to the checkout page.

"Typing in my credit card number for a $4,000 couch just doesn't feel right. It's just a big commitment," she said.

And every time shealmostclicked "buy," she kept noticing something. Right under the options for a credit card, Apple Pay and PayPal were options that'd let her buy the couch and break her payment down into four installments using Klarna, Affirm, or AfterPay. These companies offer "buy now, pay later" (BNPL) loans.

As theIt's Been a Minuteteam dug into it more, we found out that BNPL is gaining popularity – over one in five people has used BNPLaccordingto the Consumer Financial Protection Bureau (CFPB), and most of those users have not-great credit.

"I'd split the user base into two main categories of heavy 'buy now pay later' users: young people and people with poor or limited credit history," said NPRLife Kit'sAndee Tagle, who's reported on this topic. "And the reason for that is because the barrier to entry is a lot lower for 'buy now, pay later' loans than your typical credit card or bank loan."

But when the news broke that Klarna was partnering with DoorDash so customers could "eat now, pay later," there was a lot ofconcernabout the prospect of financing burritos. And after finding out from a LendingTreesurveythat 25% of BNPL users use the loans for everyday purchases like groceries, Brittany wondered about the risks of a necessity like food entering the BNPL universe.

So she called up Malcolm Harris, author ofPalo Alto: A History of California, Capitalism, and the World. He said that's actually not what this is about.

"It's about the delivery itself, not the food; it's that convenience," he said. "We saw the same pattern of activity with hotels and Airbnb, for example, or with like cab companies and Uber and Lyft, for example, where you had big deep pocketed investors who are financing these companies at a loss in order to build up market position and a user base and change people's habits at a really fundamental way into this phone-mediated, always on convenience access."

And after hearing thenewsthat Klarna has doubled its losses in the most recent quarter, compared to a year earlier – due in part to people not paying back their BNPL loans – Brittany wanted to know: are BNPL companies banks, or are they tech companies? How should they be regulated, and how will consumers stay protected?

Well – that's still up in the air.

Harris said that originally, BNPL companies didn't have to abide by some of the regulations that most financial institutions do.

"They call it disruption, right? Disruption is the nice gloss that you put on regulatory arbitrage, because so many of these business models are about continuing a previously existing business model, but dodging the regulations," Harris said.

"So Uber is a great example because Uber, when it was first founded, was called UberCab. And when they discovered that would mean that they were subject to all of these regulations that the cab industry was subject to, their strategy was to chop the name 'Cab' off. If they'd been subject to all the industry regulations, they never could have gotten off the ground. Same thing is absolutely true with Airbnb, which is not a hotel service – hotels are heavily regulated. We shouldn't be surprised to see a regulatory arbitrage strategy from 'buy now, pay later.'"

But last year, the CFPB essentiallysaidBNPL companies are credit card providers. That meant that these companies had to comply with the Truth in Lending Act of 1968. And now, another wrench has been thrown in after Trump came into office.

"Theyissueda new interpretation in May of 2025 saying, 'never mind about that other thing, we're not going to focus on 'buy now, pay later' providers, and in fact, we're looking at repealing that whole interpretation,'" said Harris.

And inthe past, if you did get behind on BNPL payments, it wasn't going to be reported to the credit bureaus. But as of the past few months, Equifax, Experian and TransUnion are trying to change this. So potentially, consumers are approaching a situation with BNPL where if you get behind payments, you could potentially end up with bad credit. And now with changes at the CFPB – they might not have any protections, either.

But the rise of BNPL might also be related to what some havecalledthe "millennial lifestyle subsidy." Some tech companies – like the ones Harris mentioned – were described using that phrase because for a long time, they offered services we already had with a newer, more convenient, and often cheaper model. But their prices have beenrisingfor a while.

"I think Klarna and Affirm and any of these other 'buy now, pay later' companies are really inserting themselves as a solution to this problem of: how do you pay for the rising costs that come with Airbnb and come with Uber? And I think 'buy now, pay later' is a button you can click at the end to make it that much easier to afford those things," said Harris.

Harris said lifestyle subsidies are not new.

"We can look at the Boomer generation, for example, as heavily subsidized: by housing loan subsidies that provided a whole generation with cheap houses that they can own, and government programs of highway building, a whole road complex that they could drive on and enjoy. And we see the whole lifestyle that's built on that, right?" Harris said.

"There was a whole generation that came to understand itself in relation to cars and the highway system, and that was heavily subsidized by the state decision to build that highway system. I don't think we're the Uber generation because we loved taking Ubers, we were the Uber generation because capitalists saw an advantage in investing tons and tons and tons of money in these cab services, and we absorbed that, and it changed our lifestyle."

Who pays for lifestyle subsidies when the bill comes due? According to Harris, it's the consumers who are now reliant on formerly cheap services. BNPL services may help people afford them in the short-term, but more people arehaving troublepaying their BNPL loans back.

If we can't afford Uber or DoorDash as easily anymore – even with BNPL – that might require all of us to rethink the price of convenience (or push us to relearn how to hail a cab, or how to make our own burritos).

As for Brittany, she's going to a store to pick out her next couch – when she's ready to pay in full.

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Why I joined DOGE

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Sahil Lavingia (right) was a DOGE staffer at the Department of Veterans Affairs for 55 days. He was sworn in on March 17, 2025 by the VA's Assistant Secretary for Human Resources and Administration / Operations, Security, and Preparedness, Mark Englebaum.Sahil Lavingiahide caption

Sahil Lavingia (right) was a DOGE staffer at the Department of Veterans Affairs for 55 days. He was sworn in on March 17, 2025 by the VA's Assistant Secretary for Human Resources and Administration / Operations, Security, and Preparedness, Mark Englebaum.

What was it like to work inside Elon Musk's DOGE? The cost-cutting initiative promised transparency, but most of its actions have been shrouded in secrecy.

For months, there were reports of software engineers and Trump loyalists entering agencies and accessing sensitive data. DOGE also helped the Trump administration lay off thousands of government workers. NPR reporters have been trying for months to get anyone from DOGE to talk on the record. Now, Sahil Lavingia, a former DOGE staffer assigned to the Department of Veteran Affairs, is speaking.

Today, what drew Sahil to DOGE and what he learned about the inner workings, in a way we've never heard before.

For more on DOGE and the federal workforce:

This episode was hosted by Kenny Malone and Bobby Allyn. It was produced by Sam Yellowhorse Kesler and Emma Peaslee. It was edited by Jess Jiang and fact-checked by Sierra Juarez. It was engineered by Neal Rauch. Alex Goldmark isPlanet Money's executive producer.

Find morePlanet Money:Facebook/Instagram/TikTok/ Our weeklyNewsletter.

Listen free at these links:Apple Podcasts,Spotify,the NPR appor anywhere you get podcasts.

Help supportPlanet Moneyand hear our bonus episodes by subscribing toPlanet Money+in Apple Podcastsor atplus.npr.org/planetmoney.

Music: Universal Production Music – "Two Can Play," "Warm Welcome," and "Better Weather"

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Danielle Smith pitches B.C. on pipeline project, saying it benefits ‘all Canadians’

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Alberta PremierDanielle Smithis making apipelinepitch directly to British Columbians.

Smith told Global News that Canada needs to take advantage of this moment of national unity to respond to U.S. President Donald Trump’s threats.

“When you look at the potential for a million barrels a day at today’s prices, that’s about 20 billion dollars worth of value,” Smith toldFocus BC.

“It doesn’t just go to Alberta, it benefits all Canadians.”

Smith is leaning on the Team Canada approach but does acknowledge that there still need to be work to address Indigenous concerns.

“We hear the environmental concerns and that is why it is good to have Indigenous partners so we can reroute the route, and deal with issues on the ground,” she said.

“I know a few things need to be modified, but we can get to yes.”

There is still no proponent for the pipeline project but the previous iteration of a pipeline to the coast destroyed the relationship with then Alberta Premier Alison Redford and then B.C. Premier Christy Clark.

Smith said the difference this time is the vision to export the material out of Prince Rupert, rather than Kitimat, where navigating tankers is harder.

“Let’s go to a port that is already shipping goods, that is ice-free year-round,” she added.

B.C. Energy Minister Adrian Dix says the province is opposed to the new pipeline and instead, Alberta should focus on building out the Trans Mountain Pipeline expansion, which already cost taxpayers more than $34 billion.

“We still need to get some work to get value for that pipeline,” Dix said.

“We have been supportive of that now that taxpayers have paid for it. The idea that taxpayers would subsidize a project that has no proponent makes no sense to us.”

Watch the full interview with Smith below.

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More overdose alerts issued for Regina and Saskatoon

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Saskatchewan’s health ministry is reporting first responders have seen 54 overdoses including four deaths in Regina within the last week.

Both Regina and Saskatoon are seeing drugs with high levels of fentanyl as well as benzodiazepines and xylazine, which are drugs that naloxone won’t work on.

Harm reduction workers in both cities are saying the overdose numbers reported are actually much higher and the situation isn’t improving.

Katherine Ludwig has the full details in the video above.

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Financial aid delays continue for wildfire evacuees in Saskatchewan

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As wildfire evacuees in Saskatchewan begin returning home, many are still facing delays in receiving promised financial assistance.

Some evacuees report having no support, with issues ranging from unfulfilled hotel accommodations to the absence of food vouchers.

Premier Scott Moe had previously promised $500 to every evacuee over the age of 18, plus reimbursements for the days they were displaced.

However, as of now, there is still no clear timeline on when these funds will be available.

The Saskatchewan Public Safety Agency (SPSA) says they are working to distribute the money, retroactive to the date of the evacuation orders, with up to $200 per day available.

For the full story, watch the video above.

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Alberta to begin charging residents a fee to get the COVID-19 vaccine

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Albertans who want to continue to protect themselves from the COVID-19 virus will have to pay out of pocket for it, the province announced late Friday afternoon.

Since December 2020, the federal government had been looking after procuring and buying the vaccines,which the Public Health Agency of Canada said was unique to the COVID-19 pandemiccompared to other routine immunization programs — which are paid for by provinces and territories.

This year, the COVID-19 vaccine procurement process shifted from a federal role to provincial and territorial procurement process  ahead of the fall 2025 respiratory virus season, to align it with other how other immunizations are delivered for diseases that are endemic around the world, such as the flu.

As a result of the federal change, the Alberta government is passing the cost onto most Albertans who want to be immunized.

Health-care advocates slammed the province’s move.

“Public health decisions should be made based on the best medical evidence available, something sorely lacking in this vaccination strategy. Instead we have a government more interested in pandering to anti-vaccine rhetoric than they are in doing their job to protect the public and our health care system from preventable disease” said Chris Gallaway, executive director of Friends of Medicare.

“The fact this announcement was put out quietly, late on a Friday afternoon, shows a government who’s hoping the majority of Albertans don’t notice these policy changes and the new costs soon to be coming their way.”

The opposition NDP echoed the sentiment of the Friends of Medicare.

“It’s cruel for the UCP government to put further financial burdens on Albertans who want to protect their health and their loved ones and not get COVID,” said Sarah Hoffman, the NDP shadow minister of health.

““It’s dangerous, it’s callous, it’s anti-science, and it’s anti-public health.”

The vaccines will still be covered by the province for select groups of high-risk individuals such as seniors, people who live in congregate living, those with underlying medical conditions or are immunocompromised, and Albertans who require social support such as AISH or are homeless.

In addition to adding a fee, in most cases the COVID-19 vaccine will only be available through public health clinics and pharmacies will no longer be administering the vaccine.

While the province said work is underway to determine what the final cost will be per vaccine, it noted the U.S. Center for Disease Control estimates a cost of $110 per vaccine dose.

“The cost to taxpayers for the COVID-19 vaccine should not exceed $49 million, much of which will be offset through cost recovery in phases 3 and 4,” the province said in its news release, explaining the COVID-19 vaccine program will be rolled out in four phases, beginning with the highest-risk groups and gradually expanding to include more Albertans over time.

Phase 1:Provincially-funded vaccines will be available free to residents of seniors supportive living accommodations and home care clients.Phase 2:Provincially-funded COVID-19 vaccines will be available free for Albertans six months and older with underlying medical conditions or compromised immune systems, or in congregate living accommodations, and Albertans on social programs (i.e. AISH, income supports, and individuals experiencing homelessness).Phase 3:COVID-19 vaccine will be available to all Albertans 65 years and older, who will be required to cover the full costs of the vaccine.Phase 4:All other Albertans, who will be required to pay the full cost.

In making the announcement on Friday, the government pointed out the U.S. Federal Drug Administration in the United States — which is headed by longtime anti-vaccine activist Robert F. Kennedy Jr. — recently stopped recommending routine COVID-19 vaccines for pregnant women and healthy children.

However, following that announcement, the Society of Obstetricians and Gynaecologists of Canada saidCOVID-19 vaccination“remains safe and strongly recommended” duringpregnancyand while breastfeeding.

In January, the UCP government releaseda controversial report that called on the province to halt the use of the COVID-19 vaccine.

The report was commissioned shortly after Premier Danielle Smith swept to power in late 2022, promising to redress the COVID-19 grievances of her supporters.

However,critics lambasted the report calling it a “a sad document — that lacks significant credibility.”

Instead of encouraging Albertans to be vaccinated, the UCP government advises people to talk to their doctor about “the best course for their needs.”

“If the government was serious about tackling vaccine waste they would get serious about public health, public education and promoting the benefits of a variety of vaccines,” said Gallaway.

Friends of Medicare said Alberta’s low vaccination rates have brought an increase in the prevalence of other avoidable infectious diseases like influenza and RSV.

“This year, Alberta has seen our highest influenza death rates since 2009 and we continue to set historic new records for measles cases in Alberta.”

As of Friday, there were 879 lab-confirmed measles cases in the province.

“We surpassed the 1985 peak of 843 cases of measles in the province with 868 cases. Think of that: the highest numbers seen in 50 years,” Alberta Medical Association president Dr. Shelley Duggan said in a memo on Friday to members.

“Immunization is the only way to prevent further unnecessary life-threatening illness and further instability for acute care.”

The province said starting Aug. 11, eligible Albertans will be able to signal their intent to receive the COVID-19 and influenza vaccines by pre-ordering through the Alberta Vaccine Booking System.

After that, they’ll get a text or email reminder to book their immunization appointment in early October.

When Albertans book their immunization appointment for fall/winter 2025-26, the province said they can also pre-order their vaccine for 2026-27.

The province said in the 2023-24 respiratory virus season, a total of just over one million COVID-19 vaccines — 54 per cent of Alberta’s order that year — went unused.

Now that the province is paying to procure vaccines, it said it’s important to better determine how many vaccines are needed to support efforts to minimize waste and control costs.

“Based on the Center for Disease Control costing estimates of $110 per vaccine dose, this means that about $135-million worth of vaccines were never used and were discarded,” the province’s news release said.

“If the UCP government was really interested in eliminating waste and protecting the health of Albertans it would be promoting vaccines,” Hoffman said in her statement.

“That way the supply would get used and we would keep ourselves and our loved ones safe.”

For the 2025-26 season, the Alberta government said about 485,000 COVID-19 vaccine doses have been ordered.

Estimated budget costs for the 2025-26 season are approximately $2 million for RSV and $19 million for influenza, Primary and Preventative Health Services (previously Alberta Health) said.

Alberta still covers the cost ofalmost all other routine immunizationssuch as the ones that protect against influenza, measles, mumps, rubella, polio, tetanus, chickenpox, pertussis (whooping cough), HPV and meningitis. It also covers RSV shots for seniors.

Albertans already pay out of pocket for some some vaccines such as those recommended for travel purposes, such as the Twinrix vaccine for hepatitis A and B, and the shingles (Shingrix) vaccine.

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WATCH: Global News Hour at 6 BC: June 13

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Charges laid in a devastating crash. What investigators believe the accused had taken before getting behind the wheel and reaction from one of the survivors. How weather conditions are helping crews on the Dryden Creek wildfire. And the slowing real estate market and how some sellers may need a reality check.

Clickherefor more Global BC videos

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