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Talking to Kids About Money

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Provided By: Lanny Joseph Ribes, Northwestern Mutual Financial Network

In homes across America, families are going back to the basics – they’re working on reducing debt, re-establishing emergency funds and paying attention again to their savings and retirement accounts.

April is Financial Literacy Month, so it’s a good reminder that we shouldn’t overlook our kids in these rebuilding activities.

Time and again, polls have shown the influence of parents on the money habits of kids. A new poll conducted by the Northwestern Mutual Foundation’s financial literacy web site, Themint.org, confirms this influence. The poll asked teens to choose who had the biggest influence on the way that they saved or spent money. In a landslide, seven out of ten kids aged 17 and younger said “parents” swayed their actions the most, outpacing “friends” (16%), “TV, magazines, books, radio or celebrities” (14%), and “teachers” (1%).

Experts say one of the best ways parents can help their children, younger or older, to understand money is to talk about it and demonstrate good habits. But, pun totally intended, this is easier said than done. Some parents don’t feel comfortable talking about money.

Themint.org suggests parents use everyday experiences to start these conversations (of course, without preaching or lecturing). For example:

Recognize opportunities to educate

  • When watching TV with younger children, play devil’s advocate to the ads that bombard them – help make them more discriminating of what they see.
  • When traveling in the car, use the time to comment on the commercial messages emanating from billboards and stores.

Use shopping trips to teach financial lessons

  • Talk about why you choose one product over another – describe details about value, quality, ingredients, etc.
  • Explain the steps you take to economize, trade-off and make choices.

Make bill-paying a learning experience

  • Link utility bills to actions – like running water, lights, TVs and computers.
  • Demonstrate the impact and effect of large, unexpected expenses on the overall household budget.

Talk about the cost of living

  • Payday is a good day to show kids the effect of deductions – for taxes, insurance, retirement, etc. – and that no one gets to bring home all the money they make.
  • Talk about the role of taxes in supporting the community – its schools, roads and services.

Each stage in your child’s life presents new challenges and opportunities for helping them learn to make good financial decisions. Like measuring growth in inches, start setting goals for your child and track their financial progress.

For example, the preschool years are a good time to introduce the piggy bank and simple money concepts. Ages 7 to 13 might be a good time to introduce and allowance and the principles of earning and saving. High school is when to increase financial responsibilities, explain protection against risk and talk about safe debt levels. As they go off to college, it’s important to address the advantages and disadvantages of credit cards, explain good and bad debt and encourage the idea of “pay yourself first”.

For more information on how to talk to kids about money, visit Themint.org

Article prepared by Northwestern Mutual with the cooperation of Lanny Joseph Ribes. Lanny Joseph Ribes is a Financial Representative with the Northwestern Mutual Financial Network based in Glen Carbon, IL for the Northwestern Mutual Life Insurance Company, Milwaukee, Wisconsin. To contact Lanny Joseph Ribes, please call (618) 791-0471, email him at lanny.ribes@nmfn.com or visit his web site at LannyRibes.nmnfn.com.

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Community News

Beaver Dam hotel was landmark of bygone era in county

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A view of the hotel at Beaver Dam, south of Carlinville, in the early 1900s. A landmark of the area, the hotel was a popular overnight spot until it closed in 1938.

A century ago, a hotel was a landmark at the area that became Beaver Dam State Park in south-central Macoupin County. The structure has lived on in various incarnations since it closed in 1938.

The two-story, sixteen-room building opened for business in 1906.  The exterior of the white-frame structure was spartan in appearance, which likely reflected the interior. But the hotel was a favorite stopover for visitors to Beaver Dam Lake.

Advertisements for the hotel were found in the St. Louis, Alton, and Springfield papers and attracted guests from miles around. “There must have been some business there,” said Jim Frank of the Macoupin County Historical Society in an interview before his death in late 2024. “People came from all over to visit the lake and stay in the hotel.”

Frank, who lived south of Beaver Dam, notes that guests arrived by train from Macoupin Station, a mile to the north. “They would be met there by a horse-drawn coach,” he remarked. “That would take them up the hill to the hotel.”

Though the hotel was basic, its surroundings were scenic. A tree-lined lane met visitors on the approach to the building, which sat just inside the current park entrance, on the right.

The hotel was operated by Frank Rhoads and his wife Sarah, whose father, Henry Brayford, played a pivotal role in the development of the lake for recreational purposes.

In 1881, some eighteen leading Carlinville residents leased the property from Brayford to create the Beaver Dam Lake Club. The members spent an estimated $2600 to construct earthen dams on either end of the lake to raise the water level.

Brayford, a coal miner who began to sink a new mine in 1899, died of a lingering illness on Dec. 23, 1901 at age 84.  When Frank and Sarah Rhoads inherited the property, they ended the lease to the Carlinville businessmen and built the hotel, which opened as the Beaver Dam Fishing Resort.

The Rhoads, who had no children, took extra steps to ensure their guests’ enjoyment. “Mrs. Rhoads was quite a musician,” said Frank. “There was a grand piano and an organ in the hotel parlor, and she would play those to entertain the visitors.”

It was not the only way in which Sarah Rhoads put her stamp on the hotel. When meals were served, she called the guests and fishermen inside by blowing a large fox horn that sounded across the lake.  A taxidermist, her mounts of local wild animals were displayed in the hotel and in its guest rooms.  She was also adept at photography and for a fee, provided photos of her guests and their catches of fish.

Guests to the lake could fish for a dollar per day, while lodging was two dollars per night. Outdoor camping was permitted, but Sarah, owing to customs of the day, would not allow female campers.

Some individuals tried to avoid the fishing fee by sneaking into the lake grounds.  However, the Rhoads posted watchmen who would collect the fee as they scaled the fences.

The completion of the Shipman Blacktop in 1937 doomed the hotel, as many guests began to spend the day and drive home at night, rather than staying over.  Fee fishing continued at the site for several years, In 1947, the state of Illinois acquired the 425-acre property, which opened to the public as a state park the following year.

The second floor of the hotel was torn off, and the rest was converted into a residence for park rangers. The state also reconstructed and raised the earthen dams to create a lake of 56.5 acres.  In 1955, additional land was acquired, boosting the park to 737 acres.

When capital improvements were made to Beaver Dam State Park in the late 2000s, the old hotel structure was sold to area residents and moved off site. The building now sits on private property.

Tom Emery is a freelance writer and historical researcher from Carlinville, Ill. He may be reached at 217-710-8392 or ilcivilwar@yahoo.com.

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Letters to the Editor

Letter: The power of showing up, what local protests are really like

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When people think of protests, especially in small, conservative towns, they often imagine tension, anger, or conflict. But what I’ve experienced at our local protests is something else entirely. 

There’s music playing. People are smiling, waving, and offering encouragement. Cars pass by and honk in support. There’s laughter, conversations, and a shared sense of purpose. It’s not chaotic. It’s not hostile. It’s community. 

These protests have become a place where people come together to feel connected and hopeful. We don’t just hold signs. We bring canned goods for food pantries. We share resources. We check in on each other. Many of us also make a point to support local small businesses before and after the protests , grabbing coffee, dinner, or doing some shopping…. because we know they’re part of this community too. 

For many of us, especially those who’ve felt isolated in our beliefs, these gatherings are a lifeline. 

I’ve had countless people tell me how much this helps them. They say coming out to protest gets them off their phones, away from the news, and back into the world with purpose. They feel less alone. Less hopeless. I see it in myself too. Being around like-minded people, standing for something that matters, has improved my own mental health. Protesting reminds us that we can still make a difference. 

This isn’t about causing division. It’s about connection. It’s about choosing to take action instead of watching history repeat itself while we sit by in silence. For many of us, this is about making sure our kids, neighbors, and future generations know we tried. 

When I first had the idea to bring protests to Macoupin County, I reached out to Andi Smith in February. She had already taken the brave first step of standing with a sign in Edwardsville, and her quiet courage lit the way for so many of us. Andi has been a lighthouse of support, not just for me, but for others who are learning how to use their voice. She didn’t do it for attention. She did it because it was the right thing to do. And that kind of leadership matters. 

Now, we have weekly protests across the region. And it all started with someone deciding to show up. That’s how movements begin. That’s how change starts. Not all at once, but with one person and then another. 

I invite you to join us at our weekly protest every Tuesday from 5:00–7:00 p.m. at the Macoupin County Courthouse in Carlinville. We are building this movement with love, hope, and action.  I’m proud to be working alongside Kelley Hatlee and organizations like The 50501 Movement, Macoupin Pride, Macoupin County Action Alliance, and Indivisible. 

Weekly protests take place rain or shine every Sunday in Alton from 12 noon to 2 p.m. at the Lincoln Douglas Square, every Tuesday in Carlinville from 5 to 7 p.m. at the Macoupin County Courthouse, and every Friday from 12 noon to 2 p.m. in Edwardsville at the City Park. I encourage others to show up to one near them. You don’t need a crowd to begin. You don’t need permission to care. Just show up. Bring a sign. Start the conversation. You might be surprised how many people were waiting for someone else to take the first step. 

Because when we show up, we remember who we are. And when we come together, we realize we were never alone. 

Chelsa Pruden 

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Letters to the Editor

Letter: Common ground

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To the Editor:

There is common ground for those who voted for, or against, Donald Trump to be President of the United States again.  First, we can all agree that he won the election.  Second, Kamala Harris did not whine and lie to the American people that she really won.  And third, since it was a free democratic election, the American people will get the government they deserve.

For those citizens who feel disappointed that a majority of voters chose as their leader a demagogue who believes the rule of law does not apply to him, your duty now is to bear witness to the consequences.  And remember.  For history’s sake.

Stay awake as the herd nods off, and avoids evidence of an insurrection that happened before their very eyes.  Observe the idiot wind that blows constantly from the mouths of all those Trump-pets pretending that traitors are patriots.  Don’t fall for the false equivalencies, like convincing you that their retribution is the same as real justice.

And stop thinking about King Rump.  Entertainment is his game.  He’s the best at keeping everyone distracted while he performs his con.  He knows what he’s doing.   Also, don’t waste your time trying to convince your friends and relatives who have slid down the rabbit hole of self-delusion.  This election proved Mark Twain was right when he observed: “It is easier to fool a man, than to convince him he has been fooled.”

James Tweed

1512 Wesley Ave.
Ocean City, NJ 08226
(609)398-3124

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