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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

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Personal Finance

1 Simple Change That Will Make the CIBC Costco Mastercard Far Superior to All Those That Came Before

| Steven Porrello

With this one perk, the CIBC Costco Mastercard will beat its Capital One and American Express counterparts.

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Personal Finance

The Case Against Cash: Why You Should Use Your Credit Card for Every Christmas Purchase

| Steven Porrello

Canadians who use cash for Christmas shopping are making a big mistake.

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Personal Finance

2 in 3 Canadians Believe Home Prices Will Keep Rising: But Will They?

| Steven Porrello

Will house prices continue to soar in 2022?

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Personal Finance

Is There a Right Credit Card to Use for Christmas Shopping?

| Steven Porrello

Rewards and cash-back cards can help you earn money, but is there one (and only one) that will help you…

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Personal Finance

Canada-U.S Border Opens for the 1st Time Since March 2020: Here’s What You Should Know

| Steven Porrello

If you want to go to the U.S. in the near future, here's what you need to know.

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Personal Finance

What’s Costing You More Right Now? Easy: Meat

| Steven Porrello

By now, you've probably realized that meat isn't as cheap as it was last year. What you may not have…

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Personal Finance

5 Little-Known Benefits of the Canadian Tire Triangle Mastercard

| Steven Porrello

With the Canadian Tire Triangle Mastercard, there's definitely more than meets the eye. Here are five little-known perks you should…

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Personal Finance

The Surprising History Behind “Retirement” and Why We May Be Approaching it the Wrong Way

| Steven Porrello

What if we have this whole "retirement" thing all wrong?

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Personal Finance

Which Will Save You More in Taxes: An RRSP or TFSA?

| Steven Porrello

Which account should you choose to save for retirement? Let's take a closer look.

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Personal Finance

Feeling Behind on Your Retirement Savings? Here Are 7 Popular Ways to Catch Up

| Steven Porrello

For some Canadians, it’s going to take a miracle for them to retire — and that’s by no means an…

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close-up photo of investor Warren Buffett
Personal Finance

3 Tips From Warren Buffett on How to Fight Inflation

| Steven Porrello

What does the Oracle of Omaha say about inflation?

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Personal Finance

The Biggest Newbie Mistakes a Stock Investor Can Make (and How to Avoid Them)

| Steven Porrello

Learn from the mistakes of this writer, and you'll avoid these common newbie investor errors.

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Personal Finance

How to Turn Your Holiday Spending Into a Massive Amount of Credit Card Rewards

| Steven Porrello

If you're planning on using your credit card to buy gifts this year, here are four ways to amass more…

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Credit card, online shopping, retail
Personal Finance

3 Surprising Ways the Canadian Tire Triangle Mastercard Can Help You Fight Inflation

| Steven Porrello

With inflation at record-high rates, you need all the firepower you can get. The Canadian Tire Triangle Mastercard could be…

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money cash dividends
Personal Finance

Don’t Care to Retire Early? Still, These F.I.R.E.-Movement Habits Can Help You Become Wealthy

| Steven Porrello

By now, many of us are familiar with the Financial Independence Retire Early (F.I.R.E.) movement: Save a tonne of money,…

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close-up photo of investor Warren Buffett
Personal Finance

The Surprising Way to Become Wealthy? Live Like Warren Buffett

| Steven Porrello

It’s hard not to love Warren Buffett. With his folksy charm and profoundly simple advice, the Oracle of Omaha has…

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Personal Finance

CIBC Costco Mastercard vs. Gold Star Executive Costco Membership: Which Will Be Better?

| Steven Porrello

Many Canadians understand the benefit of a basic Costco membership (the so-called Gold Star Membership). For a small annual fee,…

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Personal Finance

Buy Now, Pay Later or a Rewards Credit Card: Which Will Save You More This Holiday Season?

| Steven Porrello

Let's take a look at when you should use BNPL to make purchases, and when you're better off using a…

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Personal Finance

How to Become a Millionaire in Your 30s (or 40s)

| Steven Porrello

If you're in your 20s or 30s, you have plenty of time to become a millionaire in the next decade.…

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Investing

5 Things I Wish I’d Known Before I Started Investing

| Steven Porrello

Every investor makes mistakes. While some are more costly than others, every investor has made them nonetheless. Sometimes, those mistakes…

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Personal Finance

No Retirement Savings at 60? Do These Things ASAP

| Steven Porrello

Even at 60 you can still save for retirement. Here are 4 ways to get started.

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Personal Finance

Are Esports the Next Investing Bubble?

| Steven Porrello

This year, 2021, we’ve seen some impressive initial public offerings: Airbnb, DoorDash, Robinhood, Coinbase. Despite the lag in the economy,…

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Personal Finance

1 Tip That Could Help You Grow Your Small Business Post-Pandemic

| Steven Porrello

The holiday season is upon us, and small businesses across the country are facing a steep challenge. Unlike last year,…

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Personal Finance

Ontario May Ban Non-Compete Agreements: What Does This Mean for You?

| Steven Porrello

Big changes are coming to employees in Ontario. Here's the lowdown.

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Personal Finance

Should You Work in Retirement? Yes. Here’s Why

| Steven Porrello

No matter what your nest egg looks like, whether you're sitting on multimillions of dollars or nothing, I think you…

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edit Safe pig, protect money
Personal Finance

With High Inflation Here to Stay, Here’s How to Inflation-Proof Your Finances

| Steven Porrello

With a few tricks up your sleeve, you can inflation-proof your finances. Here are just three simple ways to fight…

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Personal Finance

Is Outer Space the Next Investment Bubble?

| Steven Porrello

For those of us who grew up with Star Wars and Star Trek, the development of space tourism is exciting.…

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Personal Finance

5 Perks That Could Make the New CIBC Costco Mastercard Better Than the Last

| Steven Porrello

We're almost at the end of October, and for cardholders of the Capital One Costco Mastercard, that means one thing:…

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Personal Finance

Pay off Your Mortgage or Save More in Your RRSP: Which Will Make You Wealthier?

| Steven Porrello

Save money on mortgage interest by paying it off now? Or earn money on compound interest by investing today?

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Personal Finance

5 Signs You Should Dump Your Brokerage Account Today

| Steven Porrello

If any of these resonate with you, then it's probably time to dump your brokerage account sooner rather than later.

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Personal Finance

Here’s Why Your Home Isn’t a Good Retirement Plan

| Steven Porrello

Our hot real estate market has made many would-be retirees consider retiring on their home equity. Here's why they should…

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Personal Finance

“Buy American?” Thanks, But No Thanks

| Steven Porrello

A bill is making its way through U.S. congress that lays out Biden's plans around health care, immigration, and climate…

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Personal Finance

4 Things the World’s Most Successful Investors Have in Common

| Steven Porrello

Here's what unites the world's most successful investors.

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Personal Finance

Home Prices Have Ballooned 21.4% Since Last October: Buy Now or Wait for Prices to Drop?

| Steven Porrello

With home prices continuing rise, many Canadians are faced with a dilemma: buy now or see if prices drop?

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Personal Finance

No Retirement Savings at 50? Here’s How to Still Retire a Millionaire

| Steven Porrello

If you don't have a dime set aside for retirement, here's what you'll need to save to retire a millionaire.

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Personal Finance

The 4 Biggest Mistakes New Investors Make (and How to Avoid Them)

| Steven Porrello

Here are four common investing mistakes you can avoid.

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Personal Finance

Small Businesses Lost $27.6 Million to Fraud Last Year: Here’s How to Protect Yourself

| Steven Porrello

To help you protect your small business from fraud, here are five simple things you can start implementing today.

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Personal Finance

Here’s Why I’m Not Getting a Crypto Credit Card Just Yet (Spoiler: Taxes)

| Steven Porrello

Crypto cards may help you make purchases with cryptocurrency, not to mention earn rewards. But they come with a twist:…

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Personal Finance

If the New CIBC Costco Mastercard Has These 4 Perks, Buying a Costco Membership Is Worth It

| Steven Porrello

Let’s face it: a Costco membership card isn’t the most exciting purchase you’ll ever make. After all, who wants to…

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Credit card, online shopping, retail
Personal Finance

5 Ways You’re Using Your Rewards Credit Card Entirely Wrong

| Steven Porrello

There is a way to lose money on a rewards card. It's called missed opportunities. Here are five ways you…

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