Steven Porrello, Author at The Motley Fool Canada

Recent Articles

Personal Finance

Yes, the Stock Market Might Look Scary in 2022: Here’s Why You Should Invest in Stocks Anyway

February 13, 2022 | Steven Porrello

If the market tanks, stocks will be deeply discounted.

This Is the Worst Place to Hold Your Money Right Now (Hint: It’s Not a Savings Account)

February 12, 2022 | Steven Porrello

Warning: long-term GICs might be the worst place to store your money right now.

Should You Still Retire in 2022? 3 Things to Consider Before You Do

February 11, 2022 | Steven Porrello

2022 might not be the best year to retire. Here's why.

Personal Finance

These Credit Card Perks Are Completely Overrated (And Might Cost You, Too)

February 11, 2022 | Steven Porrello

When you're shopping for a new card, don't be pulled in by these overrated "perks."

January Recap: The 5 Craziest Things Elon Musk Has Done, Said, or Tweeted So Far This Year

February 10, 2022 | Steven Porrello

Here are my top five favourite Elon Musk "moments" from January.

close-up photo of investor Warren Buffett

Personal Finance

Warren Buffett Makes $2 Billion in January as World’s Wealthiest Lose Billions: How Does He Do it?

February 9, 2022 | Steven Porrello

The world's wealthiest people lost billions in January, but not Buffett.

Personal Finance

What if Inflation Never Drops in 2022? Learn These 10 Ways to Make Life Less Expensive

February 9, 2022 | Steven Porrello

Inflation could remain high for the remainder of 2022. Here's how you and your budget can fight back.

3 Ways You’re Using Your Canadian Tire Mastercard All Wrong

February 7, 2022 | Steven Porrello

Here's how to avoid leaving CT money on the table.

Sick of Getting Outbid on a Home? Here’s How 1st-Time Homebuyers Can Stay Competitive

February 7, 2022 | Steven Porrello

If you're looking to buy in 2022, here's how you can stay competitive.

Bank of Canada to Homebuyers: Expect Interest Rates To Be “On a Rising Path”

February 6, 2022 | Steven Porrello

The Bank of Canada has decided to keep the benchmark interest rate the same—for now.

Feeling Burned-Out From Budgeting? Here’s How to Reset and Refocus

February 5, 2022 | Steven Porrello

If you're feeling budget burnout, let's take a step back and refocus.

Want to Retire Before 40? Here’s How to Use a TFSA and RRSP Strategically

February 5, 2022 | Steven Porrello

How can you use a TFSA and RRSP to fund your early retirement?

Don’t Waste Your Time With the Debt Snowball. This 1 Trick Will Save You More Money

February 4, 2022 | Steven Porrello

The roll-down method involves paying high interest debt first. Is it right for you?

Fixing the Wealth Gap in Canada: Here’s How Minorities Can Start Building Generational Wealth

February 4, 2022 | Steven Porrello

Canada is one of the wealthiest nations in the world, but that wealth isn't distributed equally.

Personal Finance

How To Beat Warren Buffett At His Own Game

February 4, 2022 | Steven Porrello

Warren Buffett is arguably the G.O.A.T. of investing. But that doesn't mean you can't outsmart him.

Personal Finance

Capital One Costco Credit Card: How to Prepare for the CIBC Transition

February 2, 2022 | Steven Porrello

On March 4, CIBC will officially replace Capital One as Costco's credit card partner. Here are a few important things…

Who Says You Have to Quit Working in Retirement? 5 High-Paying Remote Jobs for Retirees

February 1, 2022 | Steven Porrello

With these five remote opportunities, you can fund your retirement dreams without committing to a full-time job.

What Can We Learn From Elon Musk’s +$30 Billion Loss?

February 1, 2022 | Steven Porrello

Can Elon Musk's recent loss help us in these times of market uncertainty?

Who Benefits Most From a 30-Year Historic Inflation: Lenders or Borrowers?

February 1, 2022 | Steven Porrello

The short answer? Both—and neither.

Aeroplan Has Given Over 1.3 Billion Points to Charities. Should You Donate Your Points, Too?

January 31, 2022 | Steven Porrello

If you're accumulated a massive amount of points, consider giving some to others.

Personal Finance

Warren Buffett to Young People: Stop Taking Out Credit Card Debt

January 31, 2022 | Steven Porrello

Are you wondering if you should use credit cards? Here’s a tip from Buffett himself.

Personal Finance

Credit Card Churning Is Perfectly Legal. Here’s How It Could Come Back to Haunt You

January 31, 2022 | Steven Porrello

As you're churning credit cards, here are four risks to watch out for.

Should You Use Aeroplan Points to Travel Domestic or International?

January 31, 2022 | Steven Porrello

Which will give you more value: domestic flights or international ones?

Personal Finance

Want to Earn an Extra $1,000 This Month? Credit Cards Might Be the Surprising Answer

January 31, 2022 | Steven Porrello

The challenge for this month: earn $1,000 on credit card churning.

Here’s How to Double-Dip Your Canadian Tire Membership and Rewards Card

January 28, 2022 | Steven Porrello

This is the only way to double-dip rewards on the Canadian Tire Mastercard and Triangle Rewards program.

From Cleaning Boiler Rooms to Tesla: How Elon Musk Made Money Before He Was Elon Musk

January 27, 2022 | Steven Porrello

Elon Musk wasn't always the face of the EV revolution.

The Average Home Price Is Over $700K: How Long Will it Take to Save a Down Payment for That?

January 27, 2022 | Steven Porrello

To save the appropriate down payment, you might need more time than you think.

I Hate Budgeting, But I’m in Love With This 117-Year Old Budget From Japan

January 26, 2022 | Steven Porrello

Yes, it's my first confession of the year: I hate budgeting.

Personal Finance

5 Reasons to Ditch Your Debit Card for a Cash Back Credit Card

January 25, 2022 | Steven Porrello

If you love your debit card, here are five big reasons you should dump it for a cash back credit…

7 Pesky Finance Fees That Are Robbing You of Your Wealth (and How to Avoid Them)

January 25, 2022 | Steven Porrello

No one likes to pay fees. Here's how you can avoid Canada's top seven.

Personal Finance

Here’s How to Get 20 Times Back on Your Largest Canadian Tire Purchase (and up to 35 Times Back on Other Purchases)

January 25, 2022 | Steven Porrello

But for those who shop exclusively at Canadian Tire, the Triangle Select program might be right for you.

3 Things I Love About the New CIBC Costco Mastercard (and 3 I Don’t)

January 24, 2022 | Steven Porrello

The CIBC Costco Mastercard will be available on March 4.

Bank of Canada Could Hike Mortgage Rates as Soon as This Week: Here’s How Homebuyers Can Prepare

January 24, 2022 | Steven Porrello

The era of historically low interest rates could be coming to a quick end.

Should You Invest Your Down Payment in Stocks if You Can’t Find a Home in 2022?

January 24, 2022 | Steven Porrello

Let's examine when you should (and shouldn't) invest your down payment in risky investments.