No one likes to see that interest charge on your credit cards and loans. But you might be able to make that interest work for you at tax time since some of it may be deductible on your tax return. And whether interest is deductible depends on how you use the money you borrow. If the money you borrow-- let's say it's either a loan or on a credit card-- is for business or investment purposes, then that interest expense may be deductible. But if you are borrowing money for personal use-- say your own clothes or food-- that interest would not be deductible. And if you're not sure what is personal and what is business, quick way to think about it-- are you borrowing money to make money? If you are, then it makes it more likely the interest will be deductible. But remember, keep track of where and how you spend money. And have your records on hand for the CRA. I'm Kim Parlee, and thats' your "Money Talk Minute."