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Author: Steven Porrello

Steven Porrello joined the Motley Fool Canada team in 2020 and has six years of experience writing on financial topics and investing. His work has been featured regularly on MSN Money, Yahoo! Finance, Nerdwallet, and Motley Fool's The Ascent.

Recent Articles

Personal Finance

Which Will Make You Wealthier: Betting on Sports or Stock Investing?

| Steven Porrello

Sports betting and stocks might seem similar, but one is far riskier than the other.

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Personal Finance

Does it Ever Make Sense to Pay Your Income Taxes With a Rewards Credit Card?

| Steven Porrello

There are two instances when it might make sense to use a credit card to pay your income taxes.

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close-up photo of investor Warren Buffett
Personal Finance

Warren Buffett Doesn’t Diversify His Stocks: Should You?

| Steven Porrello

"Diversification is a protection against ignorance," said Warren Buffett. Is that a bad thing?

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Personal Finance

Is Earning Passive Income Practical, or Is it a Waste of Time?

| Steven Porrello

How can you make your passive-income venture practical? Here's one expectation you should have.

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Personal Finance

3 Reasons Your Credit Card Provider Could Take Away Your Rewards in 2022

| Steven Porrello

Will your credit card provider take away rewards in 2022?

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online shopping
Personal Finance

Want a 2nd “Welcome” Bonus on Your Credit Card? Here’s How to Earn it (and Maybe a 3rd)

| Steven Porrello

If you're good at negotiating, you might be able to get a second bonus on a rewards card.

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Personal Finance

Why Do You Have a Mediocre Credit Score When You Have No Debt? 5 Things to Consider

| Steven Porrello

Credit scores can be confusing. If you feel you're doing everything right, here's why your score might still be mediocre.

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Personal Finance

15 Ways Canadians Can Help People in Ukraine Right Now

| Steven Porrello

How can Canadians help Ukrainians? Here are 15 unique organizations you can donate to.

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Personal Finance

Should Your Small Business Have a Cash Back Credit Card?

| Steven Porrello

Small business credit cards can free up cash flow, as well as help you earn valuable rewards.

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Personal Finance

3 Signs You Should Dump Your Aeroplan Rewards Card

| Steven Porrello

Not sure if you should renew your Aeroplan card? Here are some signs you might want to cancel it.

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Personal Finance

Will Housing Prices Ever Drop? Here’s What Homebuyers Should Expect for the Rest of 2022

| Steven Porrello

What might cause home prices to go down in 2022?

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Caution, careful
Personal Finance

21% of Canadians Are Making a Huge Mistake With Their Credit Cards

| Steven Porrello

One in five Canadians is making only the minimum payment on a credit card. Here's why that's a mistake.

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investment research
Personal Finance

Here’s How Canadians Can Help Stop High Inflation … Without the Bank of Canada’s Help

| Steven Porrello

We play a role in this, too.

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think thought consider
Personal Finance

How to Invest in Stocks … Even if You Have No Idea Where to Begin

| Steven Porrello

Stock investing is, hands down, one of the best ways to build long-term wealth. Here's how new investors can get…

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online shopping
Personal Finance

This Trick Could Help You Get Ten Times More Credit Card Rewards

| Steven Porrello

If your card gives you cash back, here's how you can make it grow larger.

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Personal Finance

5 Reasons Everyone Should Stop Hating On the Canadian Tire Mastercard

| Steven Porrello

Here's why frequent Canadian Tire shoppers should consider getting the Triangle Mastercard, no matter what the public says.

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Personal Finance

Bank of Canada’s “Hidden” Message on Interest Rates: This Is Your Last Warning

| Steven Porrello

Interest rates are coming. How soon will they arrive?

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Personal Finance

The Average Home Price Is almost $750K: What Does the Mortgage Look Like for That?

| Steven Porrello

Here's what you can expect to pay per month for the average house price.

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Personal Finance

Want to Save $1,000 in March? 5 Easy Ways to Save More

| Steven Porrello

The household savings rate is trending downward. But if saving money is a goal, here's how to save $1,000 in…

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Personal Finance

4.5 Things You Should Never Buy With Your CIBC Costco Mastercard

| Steven Porrello

The CIBC Costco Mastercard will be available March 4.

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Personal Finance

How to Dominate the Bidding War and Win a House You Actually Want to Buy

| Steven Porrello

If you want to buy a home this year, here are some ways you can dominate the market.

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Personal Finance

Canadians Who Work From Home: You Can Get up to $500 Back on Your Taxes

| Steven Porrello

Work-from-home life just got better.

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Personal Finance

These Money Habits Are Stopping You From Retiring a Millionaire

| Steven Porrello

What financial habits are stopping you from retiring a millionaire?

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Personal Finance

Raging Inflation: These Are the Worst Money Mistakes You Can Make During High Inflation

| Steven Porrello

Inflationphobia is causing Canadians to make poor money choices. Here are four you can avoid.

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Personal Finance

Don’t Buy From Canadian Tire Yet: You Could Earn 40 Times More if You Wait Until This Day

| Steven Porrello

Stack this offer with other offers to earn even more CT money.

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Personal Finance

Want to Retire Early? Do This and You Could Retire 10 Years Before Your Parents Did

| Steven Porrello

By harnessing the power of compound interest, you could retire before your parents did.

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online shopping
Personal Finance

Costco’s New Rewards Card Might Just Be the Best Card to Fight Inflation

| Steven Porrello

With bonus earnings on gas and food, the CIBC Costco Mastercard could help you fight 2022 inflation.

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Investing

How to Use Your Credit Card to Save for Retirement (and Earn a Tonne of Rewards in the Process)

| Steven Porrello

Invest your cash back in stocks or ETFs, and you can build a sizable retirement fund.

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Personal Finance

Mortgage Rates: How High Could the Bank of Canada Hike Rates in March?

| Steven Porrello

Inflation is now 5.1%. How high will the Bank of Canada hike interest rates to combat it?

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Personal Finance

The Best Alternatives to an Emergency Fund When You Have Zero Savings

| Steven Porrello

HELOCs, low-interest credit cards, and TFSA investments can help your household stay afloat in a time of dire need.

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Personal Finance

10 Clever Ways to Get Paid to Exercise in 2022

| Steven Porrello

These apps give you cold, hard cash for walking, losing weight, and completing fitness challenges.

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close-up photo of investor Warren Buffett
Investing

Here’s Why Warren Buffett Is Beating Every Billionaire Right Now

| Steven Porrello

Here's how Buffett's net worth jumped by $4.46 billion in January, while other billionaires struggled.

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Personal Finance

This One Debt Trick Can Help Lower Your Tax Bill and Increase Your Refund

| Steven Porrello

Should you take out an RRSP loan to lower your 2021 tax bill?

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Personal Finance

Give Small Business Owners a Break: Why 2022 Needs to Be the Year We Lower This Credit Card Fee

| Steven Porrello

Canadian small businesses continue to pay high credit card processing fees. Here's what you can do.

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online shopping
Investing

Contractors and the Self-Employed: You Should Absolutely Have a Business Credit Card

| Steven Porrello

If you're on the fence about getting a business card, here are a few reasons you should just do it.

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clock time
Personal Finance

Surprise! One CIBC Costco Mastercard Perk That’s Easy to Overlook

| Steven Porrello

The new CIBC Costco Mastercard has an installment plan that could help you save on interest.

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Personal Finance

Canadian Tire Mastercard Users: Don’t Miss Your Chance to Earn 30 Times Back

| Steven Porrello

Mark your calendars. On March 16 and 17, you can earn 30 times more Canadian Tire money.

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Personal Finance

Could the Bank of Canada Raise Interest Rates in February?

| Steven Porrello

Here's why the Bank of Canada could raise interest rates in February as well as why it likely won't.

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Personal Finance

Can You Really Become Wealthy From TikTok?

| Steven Porrello

If you're thinking about using TikTok to earn wealth, here's what you should know.

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Personal Finance

These Are the Most Costly Mistakes Homebuyers Are Making in a Sellers’ Market

| Steven Porrello

With homes in low supply, you don't want to make these costly mistakes.

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