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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. He's taken university courses on finances and accounting and has grown his passion for energy, materials, and growth stocks with post-graduate studies and writing.

Recent Articles

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

Homebuyers Blinded by Low Mortgage Rates Are Making These 3 Costly Errors

| Steven Porrello

Here are three costs that are all too easy to overlook.

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You Should Know This
Personal Finance

Look Out, Scotia Rewards Members: Scene+ Could Amp Up Your Earnings in 2022. Here’s What You Should Know

| Steven Porrello

At the end of December, Scotia Rewards will become Scene+. Here's what that means for you.

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Credit card, online shopping, retail
Personal Finance

Before You Say No to a Credit Card With Annual Fees, Do This First

| Steven Porrello

An annual fee is what some credit card providers charge to cardholders in exchange for more perks, bigger welcome bonuses,…

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Personal Finance

Struggling to Save Money? Get Your First $1,000 With These Tips From Warren Buffett

| Steven Porrello

Warren Buffett is one of the wealthiest self-made persons in the world. Here's what he has to say about saving…

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Woman has an idea
Personal Finance

These Costly Mistakes Could Make Your Side Hustle Not Worth the Effort

| Steven Porrello

Avoid these 5 common mistakes, and you'll make your side hustle much more profitable.

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online shopping
Personal Finance

This One Simple Trick Will Help You 2x, 5x, or 10x Your Aeroplan Rewards

| Steven Porrello

How you can 10x your Aeroplan rewards? Follow this tip and you'll see a difference.

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money cash dividends
Personal Finance

Millennials Want to Shop Local: How to Make Them Loyal Fans of Your Small Business

| Steven Porrello

How can your small business engage millennials? These tips could help you engage them the right way.

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Economic Turbulence
Personal Finance

12 Mindless Habits That Are Slowly Depleting Your Wealth

| Steven Porrello

These 12 mindless habits could be slowly draining your wealth.

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Top view of people having party, gathering, celebrating together
Personal Finance

5 Inflation-Proof Recipes That Could Help You Save on Groceries This Christmas

| Steven Porrello

Cook these five recipes this year, and you could cut your grocery bill significantly.

Read more »

edit Colleagues chat over ketchup chips
Personal Finance

These Company Emails Show Exactly How Brilliant and Bossy Elon Musk Really Is

| Steven Porrello

Musk's emails can be extremely bossy, though not without a touch of brilliance. Here are just a few of his…

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edit Women wearing red sweater shopping online and using credit card at home office
Personal Finance

5 Popular Holiday Expenses That Are a Complete Waste of Money

| Steven Porrello

Don't waste your hard-earned cash (or credit card rewards) on these popular holiday items.

Read more »

Credit card, online shopping, retail
Personal Finance

Here’s What the CIBC Costco Mastercard Could Earn on 10 of Costco’s Most Expensive Items

| Steven Porrello

If we assume a 2% earn rate on the new CIBC Costco Mastercard, here's how much you could earn.

Read more »

edit
Personal Finance

This Silly Credit Card Mistake Could Be Costing You Thousands of Rewards Points

| Steven Porrello

A misunderstanding leads many rewards credit card holders to make a silly mistake: redeeming points or miles for cash back.

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Caution, careful
Personal Finance

Retire in 2022? Here’s Why Next Year Might Be the Worst Year to Retire

| Steven Porrello

Unless you absolutely must retire in 2022, I would reconsider waiting another year. Here's why.

Read more »

Little girl kissing her granddad at christmastime
Personal Finance

4 Popular Ways to Boost Your Canadian Tire Money This Christmas

| Steven Porrello

This shopping tips will help you earn more Canadian Tire money this holiday season.

Read more »

Knowledge concept with quote written on wooden blocks
Personal Finance

Inflationphobia: How to Avoid Overreacting to High Inflation (and Possibly Wasting a Lot of Money!)

| Steven Porrello

Some reactions to inflation are justifiable. Some are just hysterical. Here's how not to overreact.

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retirees and finances
Personal Finance

These Early Retirement Myths Need to Burn Out and Die

| Steven Porrello

People love to beat up the idea of early retirement. They point out that early retirees get bored fast, lose…

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

As Home Prices Continue to Soar, Homebuyers Are Still Making These 3 Common Mistakes

| Steven Porrello

While home supply is low, you don't want to make these three big mistakes.

Read more »

Retirement plan
Personal Finance

Don’t Make $100,000 a Year? Here’s How to Retire a Millionaire Anyway

| Steven Porrello

How do average earners retire millionaires? It's easier than you think.

Read more »

close-up photo of investor Warren Buffett
Personal Finance

5 Quirks That Explain Why Warren Buffett Is One of the Wealthiest People in the World

| Steven Porrello

Between keeping his taxes and owning the same house since the 50s, these Buffett quirks may be the key to…

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sad concerned deep in thought
Personal Finance

5 Post-Pandemic Perks That Could Make Your Employees Never Want to Leave

| Steven Porrello

Canadian small businesses are struggling to retain employees. These five perks may be the secret to keeping them.

Read more »

Credit card, online shopping, retail
Personal Finance

Here Are the Absolute Worst Ways to Redeem Your Credit Card Rewards

| Steven Porrello

How should you redeem your credit card's rewards? Here are a few redemption options you might want to avoid.

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Senior Man Sitting On Sofa At Home With Pet Labrador Dog
Personal Finance

5 Mistakes Even Smart People Make When Planning For Retirement

| Steven Porrello

Anyone can make mistakes when planning for retirement. Even smart people.

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sad concerned deep in thought
Personal Finance

Will Elon Musk Give Up 2% of His Wealth to Solve World Hunger? Here’s Why the World Shouldn’t Hold its Breath

| Steven Porrello

The U.N. has unraveled its plan to spend Elon Musk's US$6 billion. Will Musk cough it over?

Read more »

Aircraft wing plane
Personal Finance

Air Canada’s Portable COVID-19 Test Could Make Crossing the U.S. Border Easier, But Here’s What You Should Know First

| Steven Porrello

Aeroplan launches the first portable COVID-19 test. But can it help you travel back and forth between the U.S. and…

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Credit card, online shopping, retail
Personal Finance

Every Year, Holiday Shoppers Make These 3 Costly Mistakes With Their Rewards Credit Cards

| Steven Porrello

To help you evade a credit card disaster, here are three common mistakes you should avoid.

Read more »

question marks written reminders tickets
Personal Finance

Is Canadian Tire’s “Exclusive” Triangle Select Program Really Worth the Extra $89?

| Steven Porrello

Canadian Tire has an exclusive program that can earn you more Canadian Tire Money. Is it worth the extra cost?

Read more »

stock research, analyze data
Investing

1 Perk Small Businesses Can Offer to Win Over Employees Now

| Steven Porrello

Around half of small businesses are struggling to retain employees. This perk could be the key to retention.

Read more »

Two hands holding champagne glasses toasting each other with Paris in the background
Personal Finance

Here Are 10 Different Ways to Look at Elon Musk’s Record-High Net Worth

| Steven Porrello

Elon Musk is the richest man in the world. But what does that really mean? Here are 10 ways to…

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money cash dividends
Personal Finance

How Air Canada’s New Portable COVID Test Could Mean Big Earnings for Aeroplan Members

| Steven Porrello

Here's how a new COVID test could help you rake up some necessary rewards.

Read more »

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

Buying a Home Before the End of 2021? Here’s Why You Might Want to Wait Instead

| Steven Porrello

With mortgage rates on the rise, you might feel the pressure to get a home now. Here's why you should…

Read more »

Credit card, online shopping, retail
Personal Finance

Here’s How the CIBC Costco Mastercard Can Avoid Becoming a Major Disappointment

| Steven Porrello

If the CIBC Costco Mastercard has these perks, it will avoid becoming just another retail credit card.

Read more »

edit Taxes CRA
Personal Finance

From Unshucked Oysters to Bitcoin: 10 Oddities That Are Taxed in Canada

| Steven Porrello

From blank CDs to smoked fish, the CRA has levied taxes on these 10 weird things.

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Path to retirement
Personal Finance

Can You Retire a Multi-Millionaire With $500 a Month? Yes, But Here’s What You Should Know First

| Steven Porrello

How can you retire a multi-millionaire with $500 a month? Three things: start early, invest wisely, and stay out of…

Read more »

Happy Retirement” on a road
Personal Finance

5 Major Early Retirement Mistakes (and How to Avoid Them)

| Steven Porrello

The F.I.R.E movement has been the most exciting, fun-to-watch development in personal finances in recent years. Instead of advising workers…

Read more »

Red siren flashing
Personal Finance

Homebuyers Beware: These Recent Changes Could Make Mortgage Rates Skyrocket

| Steven Porrello

Is now the time to get a mortgage before rates start to climb?

Read more »

Knowledge concept with quote written on wooden blocks
Personal Finance

Elon Musk Is Now Worth a Record-High $300 Billion: Here’s Why Ontario Should Be Upset …

| Steven Porrello

Well, it’s official. Not only is Elon Musk the richest person in the world, but he’s also the first person…

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close-up photo of investor Warren Buffett
Personal Finance

What We Can Learn From Warren Buffett’s Biggest Regrets

| Steven Porrello

He’s the Oracle of Omaha, and one of the greatest investors of all time (if not the greatest). His company,…

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You Should Know This
Personal Finance

Black Friday Is Coming: Here Are 5 Simple Ways to Completely Blow Your Budget

| Steven Porrello

Here's a shortcut to overspending (and blowing your budget's parameters) on Black Friday.

Read more »

close-up photo of investor Warren Buffett
Personal Finance

Buffett’s Most Counterculture Habit Could Be the Secret to Building Wealth

| Steven Porrello

This Warren Buffett habit could make you rich.

Read more »