Steven Porrello, Author at The Motley Fool Canada

Recent Articles

Personal Finance

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

March 8, 2022 | Steven Porrello

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

Personal Finance

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

March 7, 2022 | Steven Porrello

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

close-up photo of investor Warren Buffett

Personal Finance

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

March 7, 2022 | Steven Porrello

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

Personal Finance

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

March 7, 2022 | Steven Porrello

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

Personal Finance

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

March 7, 2022 | Steven Porrello

Will your credit card provider take away rewards in 2022?

Personal Finance

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

March 7, 2022 | Steven Porrello

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

Personal Finance

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

March 6, 2022 | 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

March 4, 2022 | 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?

March 4, 2022 | Steven Porrello

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

Personal Finance

3 Signs You Should Dump Your Aeroplan Rewards Card

March 4, 2022 | Steven Porrello

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

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

Personal Finance

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

March 2, 2022 | Steven Porrello

What might cause home prices to go down in 2022?

Personal Finance

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

March 1, 2022 | Steven Porrello

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

Personal Finance

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

February 28, 2022 | Steven Porrello

We play a role in this, too.

Personal Finance

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

February 28, 2022 | Steven Porrello

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

Personal Finance

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

February 27, 2022 | Steven Porrello

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

Personal Finance

5 Reasons Everyone Should Stop Hating On the Canadian Tire Mastercard

February 27, 2022 | Steven Porrello

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

A house being constructed in the countryside

Personal Finance

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

February 27, 2022 | Steven Porrello

Interest rates are coming. How soon will they arrive?

Personal Finance

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

February 25, 2022 | Steven Porrello

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

Female hand holding piggy bank. Save money and financial investment

Personal Finance

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

February 24, 2022 | Steven Porrello

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

Double exposure of a businessman and stairs - Business Success Concept

Personal Finance

4.5 Things You Should Never Buy With Your CIBC Costco Mastercard

February 24, 2022 | Steven Porrello

The CIBC Costco Mastercard will be available March 4.

Personal Finance

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

February 24, 2022 | Steven Porrello

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

Personal Finance

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

February 23, 2022 | Steven Porrello

Work-from-home life just got better.

Personal Finance

These Money Habits Are Stopping You From Retiring a Millionaire

February 23, 2022 | Steven Porrello

What financial habits are stopping you from retiring a millionaire?

Personal Finance

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

February 23, 2022 | Steven Porrello

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

young woman celebrating a victory while working with mobile phone in the office

Personal Finance

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

February 22, 2022 | Steven Porrello

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

Personal Finance

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

February 21, 2022 | Steven Porrello

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

Personal Finance

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

February 21, 2022 | Steven Porrello

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

Investing

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

February 20, 2022 | Steven Porrello

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

Personal Finance

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

February 19, 2022 | Steven Porrello

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

Man with no money. Businessman holding empty wallet

Personal Finance

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

February 19, 2022 | Steven Porrello

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

Young adult woman walking up the stairs with sun sport background

Personal Finance

10 Clever Ways to Get Paid to Exercise in 2022

February 18, 2022 | Steven Porrello

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

Investing

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

February 18, 2022 | Steven Porrello

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

Personal Finance

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

February 18, 2022 | Steven Porrello

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

Personal Finance

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

February 17, 2022 | Steven Porrello

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

Investing

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

February 17, 2022 | Steven Porrello

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

Personal Finance

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

February 17, 2022 | Steven Porrello

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

Personal Finance

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

February 15, 2022 | Steven Porrello

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

Personal Finance

Could the Bank of Canada Raise Interest Rates in February?

February 15, 2022 | Steven Porrello

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

Personal Finance

Can You Really Become Wealthy From TikTok?

February 14, 2022 | Steven Porrello

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

Personal Finance

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

February 14, 2022 | Steven Porrello

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

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