The Money Bare

Latest Episodes:

Can you really write off your dog??? Breaking Down Instagram Tax "Advice" with Shannon Weinstein, CPA May 01, 2023

Show notes

We've all seen it-- tax advice on Instagram telling folks they can write off their dog as office security, or folks telling people to buy a g-wagon to write it off... but how does that stuff hold up with the IRS??? And what tax-saving tips should small business owners pay attention to? In this week's episode, Shannon Weinstein, CPA, breaks it down.
Shannon is a CPA and fractional CFO for growth-minded business owners. A teacher at heart, her real-life relatable examples simplify the financial side of the business so you can stop stressing and start scaling. She hosts the IRS's least favorite podcast, Keep What You Earn, which consistently ranks in the top 200 in Entrepreneurship. She is a frequent speaker in business coaching communities and masterminds.
What you'll hear in this episode:

[0:12] Episode and guest introduction.
[1:22] Doing the CPA thing differently
[2:55] Buying stocks at 12 years old
[8:18] Shannon's father's vision for her
[12:43] Shannon's view on money growing up
[18:20] Ending up in Costa Rica
[27:10] Tax advice on Instagram
[33:32] The Augusta Rule
[51:00] Inheritance money
[52:30] Very first money memory

Connect with Shannon:
Website: https://www.fitnancialsolutions.com/media
Keep What You Earn Podcast: https://podcasts.apple.com/us/podcast/keep-what-you-earn/id1580071347
IG: https://www.instagram.com/shannonkweinstein/
Related Episodes:
Episode 37: The Patriarchy, Wealth Inequities and Starting a Business with Meg K. Wheeler
Episode 29: Is real estate investing worth it from a tax-perspective

Clo Bare Blog: clobare.com
Find me on social media at @clobaremoneycoach
Please rate and subscribe to support this channel!
Free Money Guide: moneyrightguide.com
Free Investing Class: lazyinvestingclass.com
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This podcast is not intended as financial advice. Always do your own research and talk to your financial professional to discuss your situation. To read our full terms and conditions, head here:
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Quick Money Tip #20: Dealing with Unexpected Medical Bills Apr 27, 2023

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Ever got a bill from a dentist or doctor that should've been 100% covered by your insurance? Welp, Clo Bare had that happen last week, and she's on a mission to burn it all down. Listen to how she is dealing with an unexpected medical bill and get a few tips on how to make sure you're never in that situation.
What you'll hear in this episode:
[0:20] Life update
[1:28] US Healthcare System is infuriating
[2:50] Unexpected Medical Bills
[4:50] Appeal Process
[8:40] Chloe's frustrations
Related Episode
Episode 39: Negotiating a Medical Bill from $5k to $26?

Building a Dome (and a Flower Pot!) Airbnb in Boise with Whitney Hansen from The Money Nerds Apr 24, 2023

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Ever thought about starting an Airbnb? Here's a way to do it that doesn't add to the housing crisis: Unique experiences and stays. Whitney Hansen, the host of The Money Nerds podcast, just built a dome in the woods and is now working on a new Airbnb project: A flower pot in the middle of a flower farm. Learn how to start your own unique Airbnb stay in this week's episode of The Money Bare.
Whitney Hansen is a financial coach, speaker, and host of the award-winning podcast, The Money Nerds. She has been featured on Forbes, CNBC, ESPN, Yahoo! Finance, Ally, and frequents local news channels. After paying off $30,000 in 10 months, hacking her way to a $472 MBA, and buying her first home at 19, she discovered her love for helping Millennials take control of their financial life.
What you'll hear in this episode:
[1:05] Guest introduction.
[4:50] How did you decide to buy land and build a unique Airbnb?
[11:05] Learning all about rentals, including the word topography.
[17:35] From idea to reality, what Whitney learned.
[20:45] The Airbnb process.
[22:15] How has the Dome been doing for you and renting it out?
[26:40] Whitney the money coach that journey.
[31:53] What does Whitney plan to do next?
[37:40] Whintey's top 3 tips if you're considering Airbnb rentals.

https://www.themoneynerds.com/
https://www.instagram.com/whitney_hansen_co/
Cascade Dome (@cascadedome) and the flower pot (@idahoflowerpot)

Quick Money Tip #19: 60/30/10 Budget Rule Apr 20, 2023

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Trying to build wealth quickly? Or maybe you have an aggressive savings goal and a short-time to do it? Then the 60/30/10 budget rule might be right for you. Clo Bare breaks it down, explains the pros and cons to help you determine if the 60/30/10 budget rule is right for you.
Learn more about the budgeting rule: https://clobare.com/60-30-10-rule-budget/

Millionaire by 27? Tyler Wright from Defining Wealth's Story Apr 17, 2023

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Tyler graduated college at 22 in 2015 with a $0 net worth. Still, over the next seven years, he raised his net worth to over $1.5 million by working in sales, learning as much as possible about personal finance and investing, investing in the stock market, and investing in real estate.
In the past two years, his online brand, Defining Wealth, has gone from a couple of hundred followers on Instagram to just under 200,000 followers combined between all channels, and he now brings in $60k a month from all his income streams. Learn his story on this week's episode of The Money Bare.
https://www.instagram.com/defining.wealth/
https://linktr.ee/defining.wealth

Quick Money Tip #18: The Financial and Investing Order of Operations Apr 13, 2023

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When deciding to finally get your money in order-- what do you start with? How do you decide what the first best thing to do is??
Do you start with an emergency fund or invest in a Roth IRA?
In this week's episode, Clo Bare discusses the financial order of operations so that you can make the most of your money and achieve your financial goals.

Work Optional in Her 30s?! Shang from Save My Cents discusses Frugality & Investing in the Stock Market Apr 10, 2023

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Shang became able to 'work optional' at 31 through frugal living and investing in the stock market.
These days, she educates thousands of Americans via Save My Cents to learn how to save and invest so that they can retire with dignity while also ensuring that mental health is built into the conversation about money.
In this week's episode, Clo Bare sits down to chat about her journey and hear how Shang and her husband reached 'work optional' status by 31.

Quick Money Tip #17: Habit Stacking Your Finances Apr 06, 2023

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Habit stacking, created by James Clear, adds a new habit to a habit you already have.
It helps folks stick to a new habit because you're working it into habits already ingrained in your brain.
How can habit stacking help with our financial habits? Listen to this week's episode with Clo Bare Money Coach to find out.

Listener Questions: Love & Money, How to Overcome Money Obstacles in a Relationship Apr 03, 2023

Show notes

How should you split expenses as a couple? Should it be 50/50? Joint account or separate?
Money can often create power dynamics within a relationship, especially if one partner earns significantly more than the other.
We discuss how to manage these imbalances and maintain equality within the relationships, and we answer listener write-ins about love and money.

Quick Money Tip #16: Establishing Money Boundaries with Friends Mar 30, 2023

Show notes

Feeling like you can't catch up with your money goals because you're always spending to please friends or socialize? Let's talk a bit about money boundaries with friends, what to say, how to establish those boundaries-- and how to get a little more vulnerable.

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