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DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing

Separating Business and Personal Finances

DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing

Bleav + Quint Tatro & Daniel Czulno, CFP® a passionate look at everything money from budgeting, savings, investing, stocks, bonds, debt. For those that enjoy Dave Ramsey, Jill On Money, Smart Money, BiggerPockets it’s worth a listen!

Real Estate, Education, Investing, Self-improvement, Business, Money

4.6858 Ratings

🗓️ 16 February 2020

⏱️ 10 minutes

🧾️ Download transcript

Summary

In this episode Quint and Daniel draw from their personal experiences to give tips on how to separate business and personal finances.

Transcript

Click on a timestamp to play from that location

0:00.0

Hey there, this is Daniel. Thanks for listening to DIY Money. Now, if you haven't already, be sure to give us a five-star review so your friends know that this is a show that they can learn from. Follow us on Instagram at DIY.money. Now, enjoy this episode.

0:20.9

Welcome back, ladies and gentlemen.

0:23.1

You are listening to another edition of DIY money.

0:27.3

Yeah, what money?

0:28.8

Okay, Daniel, we've got an interesting one today.

0:31.8

We're going to get right into it.

0:33.4

Javan from Jersey.

0:35.8

Javon, what's your question?

0:37.8

D-I-Y!

0:39.6

How you doing, do it yourself first?

0:41.5

This is Javon O'Neill from Watchup, New Jersey.

0:44.4

My question is, how can you mix business with your personal finances?

0:51.3

What systems are there in place or do you guys have in place to separate the two?

0:57.9

Okay, Daniel, a real simple question, short and to the point, I like it. Since you take care of all

1:03.8

of our books for our business, what do you got? Well, what I would say here is, well, one, I'm kind of

1:09.9

bummed that Javon didn't tell us what kind of business he's in. I'm curious. But two, I would say here is, well, one, I'm kind of bummed that Javon didn't tell us what

1:11.0

could have a business he's in.

1:12.0

I'm curious.

1:13.2

But two, I would say that you have to keep them separated in some way, shape, or form.

1:19.5

That is your kind of obligation as a business proprietor, business owner, et cetera.

1:25.2

And you can do that in variety of ways.

1:26.8

You can do that simply through accounts, so you can open up a separate checking savings

...

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