Cavity optomechanical systems have become a popular playground for studies of controllable nonlinear interactions between light and motion. Owing to the large speed of light, realizing cavity optomechanics in the microwave frequency range requires cavities up to several mm in size, hence making it hard to embed several of them on the same chip. An alternative scheme with much smaller footprint is provided by magnomechanics, where the electromagnetic cavity is replaced by a magnet undergoing ferromagnetic resonance, and the optomechanical coupling originates from magnetic shape anisotropy. Here, we consider the magnomechanical interaction occurring in a suspended magnetic beam, a scheme in which both magnetic and mechanical modes physically overlap and can also be driven individually. We show that a sizable interaction can be produced if the beam has some initial static deformation, as is often the case due to unequal strains in the constituent materials. We also show how the magnetism affects the magnetomotive detection of the vibrations, and how the magnomechanics interaction can be used in microwave signal amplification. Finally, we discuss experimental progress towards realizing the scheme.