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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

consider the options
Personal Finance

Surprise! The CIBC Costco Mastercard Isn’t the Best Card to Use at Costco: Here’s Why

| Steven Porrello

For Canadians with credit cards that earn more than 1%, the new CIBC Costco Mastercard may not be the best…

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Early retirement handwritten in a note
Personal Finance

Want to Retire Before You Hit 40? Here’s How to Do it Before You Turn 35

| Steven Porrello

Do you want to retire early? Here's how.

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think thought consider
Personal Finance

2022 Might Be the Best Year to Be a New Investor: Here’s Why

| Steven Porrello

2022 is a great year to start investing in stocks. Here's why.

Read more »

Canadian Dollars
Personal Finance

How to Turn Credit Card Rewards Into a $1,000 Emergency Fund

| Steven Porrello

Over half of Canadians can't cover a $1,000 emergency expense. Here's how credit card rewards might give your emergency fund…

Read more »

warning or alert
Personal Finance

Aeroplan Mega-Bonus Alert! Get a 100% Bonus on Aeroplan Points Until March 22

| Steven Porrello

From now until March 22, you can get up to a 100% bonus on Aeroplan points bought through Air Canada.…

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online shopping
Personal Finance

Having Only 1 Rewards Credit Card Is a Horrible Idea: Here’s Why

| Steven Porrello

To truly maximize rewards, you should carry more than one rewards card. Here's why.

Read more »

sad concerned deep in thought
Personal Finance

How Much Will the War in Ukraine Drive Inflation? 3 Things to Consider

| Steven Porrello

What goods will be more expensive in 2022? Let's take a look.

Read more »

Man with no money. Businessman holding empty wallet
Personal Finance

Don’t Have an Emergency Fund? Here’s How to Come Up With $1,000 in a Dire Situation

| Steven Porrello

Need $1,000 fast? Don't worry: you have options.

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Piggy bank next to a financial report
Personal Finance

When Shouldn’t You Contribute to Your RRSP?

| Steven Porrello

RRSP are tax havens. But they're not for everyone.

Read more »

Young woman sat at laptop by a window
Personal Finance

3 Unique Challenges Women Face in Retirement Planning (and How to Solve Them)

| Steven Porrello

When it comes to retirement planning, women have far more challenges than men. Here's what they can do to solve…

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edit Colleagues chat over ketchup chips
Personal Finance

How Can Small Businesses in Canada Help Ukrainians?

| Steven Porrello

Small business owners can help Ukrainians in two major ways: donating money and resettling refugees.

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cup of cappuccino with a sad face
Personal Finance

5 Things I Don’t Like About the New CIBC Costco Mastercard

| Steven Porrello

Here are five reasons I'm disappointed with the CIBC Costco Mastercard.

Read more »

Choose a path
Personal Finance

5 Poor Choices People Make With Their Credit Cards That Feel Smart At The Time

| Steven Porrello

These choices might seem smart, but they could have long-lasting consequences.

Read more »

money cash dividends
Investing

Why Earning More Money Isn’t the Solution to Your Money Problems

| Steven Porrello

Don't be fooled. The answer to your money problems isn't making more money.

Read more »

edit
Personal Finance

4 Ways Credit Cards Could Make You Richer

| Steven Porrello

Here's how to squeeze every reward and perk out of your credit card.

Read more »

House Key And Keychain On Wooden Table
Personal Finance

Could the War in Ukraine Have Any Impact on the Canadian Real Estate Market?

| Steven Porrello

Will the war in Ukraine hurt the Canadian real estate market?

Read more »

cup of cappuccino with a sad face
Personal Finance

These Money “Tricks” Might Sound Smart, But Are Actually Dumb

| Steven Porrello

These money tips sound smart, but can be costly in hindsight.

Read more »

edit Close-up Of A Piggybank With Eyeglasses And Calculator On Desk
Personal Finance

The Scary Truth About Retirement: You’ll Never Get There by Saving Alone

| Steven Porrello

The average Canadian needs $1.6 million to retire comfortably. How can you get to $1.6 million?

Read more »

edit CRA taxes
Personal Finance

3 Reasons the 2022 Canadian Tax Season Could Be as Weird as Last Year

| Steven Porrello

Tax season 2022 has begun, and, according to the CRA, it could be as challenging as last year. Here's what…

Read more »

edit Back view of hugging couple standing with real estate agent in front of house for sale
Personal Finance

Warren Buffett to Homebuyers: If This Describes You, You’re Ready to Buy a Home

| Steven Porrello

According to Buffett, there's a clear sign when you should be a homeowner.

Read more »

Payday ringed on a calendar
Personal Finance

How to Earn More Than $1,000 Per Month With the Amazon Associates Program

| Steven Porrello

If you create content or have a strong social media following, this program could help you earn $1,000 per month…

Read more »

You Should Know This
Personal Finance

Here’s How You Can Donate Your Aeroplan Points to Help Ukraine

| Steven Porrello

Stand with Ukrainians by donating your Aeroplan Points to Doctors Without Borders or Miles4Migrants.

Read more »

Caution, careful
Personal Finance

Watch Out! Don’t Get a CIBC Costco Mastercard Until You Consider These 5 Weaknesses

| Steven Porrello

Before you sign up for the new CIBC Costco Mastercard, consider these weaknesses.

Read more »

New virtual money concept, Gold Bitcoins
Personal Finance

Is It Safe to Invest Your Retirement Savings in Crypto?

| Steven Porrello

Before you invest your retirement savings in crypto, here are some things to consider.

Read more »

Coworkers standing near a wall
Personal Finance

The New CIBC Costco Mastercard Is Finally Here: Should You Get One?

| Steven Porrello

The CIBC Costco Mastercard is now available. Should you get one?

Read more »

Road sign warning of a risk ahead
Personal Finance

Don’t Be Fooled: Here’s How Sign-Up Bonuses on Credit Cards Can Come Back to Haunt You

| Steven Porrello

What makes a sign-up bonus on a cash back or rewards credit card go wrong?

Read more »

Female hand holding piggy bank. Save money and financial investment
Personal Finance

How to Save Money for People Who Are Really, Really Bad at Saving Money

| Steven Porrello

The trick to saving money? Easy. Automations.

Read more »

Credit card, online shopping, retail
Personal Finance

Is Your Rewards Credit Card More Than 3 Years Old? Here’s Why You Should Dump it for a New One

| Steven Porrello

By applying for a new rewards card, you could get a lucrative sign-up bonus, a higher earn rate, or more…

Read more »

Happy Retirement” on a road
Personal Finance

Why You Should Strongly Reconsider Early Retirement in 2022 (and Possibly 2023)

| Steven Porrello

Even if you're dead set on retiring in 2022, here's why I strongly recommend you wait.

Read more »

online shopping
Personal Finance

How Much Do You Need to Spend to Earn $1,000 in Credit Card Rewards?

| Steven Porrello

How long will it take to earn $1,000 in credit card rewards? The answer might be shorter than you think.

Read more »

sad concerned deep in thought
Personal Finance

Cost of Living for Canadians Could Surge After Russo-Ukrainian War: Here’s What You Should Know

| Steven Porrello

The war in Ukraine will make food and gas more expensive in 2022. Here's what you can expect.

Read more »

retirees and finances
Personal Finance

For the 2nd Year in a Row, 50% of Canadians Are Making a Huge Retirement Mistake

| Steven Porrello

Over half of Canadians might be making the worst retirement mistake of their lives.

Read more »

close-up photo of investor Warren Buffett
Personal Finance

Whoa! Did Warren Buffett Invest $1 Billion in “Rat Poison?” Yep. Here’s Why

| Steven Porrello

In February, Warren Buffett's company bought US$1 billion in shares of Nubank, a Brazilian digital bank that focuses heavily on…

Read more »

online shopping
Personal Finance

Should You Ever Pay an Annual Fee for an Aeroplan Credit Card?

| Steven Porrello

Let's take a look at when you should pay the annual fee for an Aeroplan rewards card.

Read more »

Caution, careful
Personal Finance

This 1 Threat to Credit Card Rewards Is Terrifying and Makes Me Want to Use Mine Today

| Steven Porrello

Credit card providers can devalue your points at any time. Here's what you should know.

Read more »

Double exposure of a businessman and stairs - Business Success Concept
Personal Finance

3 Major Ways the War in Ukraine Could Become a Threat to Your Retirement Savings

| Steven Porrello

As the war continues to shock the world markets, I can think of three ways it could threaten your ability…

Read more »

consider the options
Personal Finance

If the Canadian Government Can Freeze Bank Accounts, Should You Keep Your Money There?

| Steven Porrello

Should you trust a bank with your money? Yes. Here's why.

Read more »

Credit card, online shopping, retail
Personal Finance

4 Warning Signs Your Credit Card Is Horrible and You Need a New One (Like, Today)

| Steven Porrello

Should you get a new credit card this year? If your card has these four things, then yes.

Read more »

funds, money, nest egg
Personal Finance

Are You Part of the 76% of Canadians Who Feel Financially Secure? Here’s How to Make the Most of a Good Situation

| Steven Porrello

Here's what to do with your extra money.

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question marks written reminders tickets
Personal Finance

Should You Take Investment Advice From TikTok?

| Steven Porrello

Move over financial advisors. There's a new sheriff in town: TikTok.

Read more »