Local Business

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RENSSELAER — Suzanne Tryon recently took ownership of the property formerly known as “Brandi’s Bakery and Cafe,” better known to longtime customers as “Clauss’ Bakery” prior to that period.

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KERSEY — A familiar establishment reopened their doors recently with new ownership. Gentleman Tom’s Hideaway had a soft opening midway through June under the guidance of new owners Keith and T…

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DeMOTTE — A new, locally-owned pharmacy has joined the medicine business in DeMotte. Mike Swart, a familiar face to many from his 22 years at CVS, has opened Valley Pharmacy. The pharmacy open…

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DeMOTTE — As Threads owners Verl and Jan Van Riessen start the process of closing their DeMotte store after 40 years, the torch is passing onto new proprietors, Kaelyn (Kay) Fisher and Alisa (…

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Kentland Bank’s President, Kirby D. Drey is recently announced that Thomas F. Cutter has joined the Kentland Bank as Senior Vice President/Chief Financial Officer, Jen Schutter as Compliance/S…

National Business

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MoneyTips

Current Federal Reserve Chairperson Jerome Powell recently indicated that the Fed may soon cut interest rates for the first time since the start of the financial crisis in 2009. What would such a change in the federal funds rate mean for you?

In today’s world of 24/7 cable TV and Internet news, people are more likely to be knowledgeable about financial and economic matters than in past generations. For example, we would venture to guess that most people have at least heard of the Federal Reserve, or, as it is usually referred to, the Fed.

However, having heard of the Fed is quite different from understanding what the Fed actually does and how its actions influence our financial lives. Let’s explore the Fed’s role in the U.S. economy and how its actions affect the broad economy and interest rates in particular.

What is the Federal Reserve and what are its Main Tools?

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Interest Rate Hikes May Drive You Crazy

Federal Reserve 101

Three Important Credit Card Interest Rules

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MoneyTips

Debt is no picnic at any age, but it's particularly rough on senior citizens. Most are nearing their retirement years or have already retired with little time (or money) to pay down debts.

Seniors tend to have better access to more credit if they need it. Their average credit score is 745, well above the national average of 701. That's both good and bad news. Better access to credit can tempt seniors into increasing debt or letting credit ride throughout their retirement years when they have less income to avoid a debt spiral.

The credit reporting agency Experian finds that Americans aged sixty and above do have less debt than the average American – $70,633 compared to the $93,446 national average – but that's still a troubling number given that most incomes will decrease during retirement years.

The amount of seni...

Tips for Seniors to Manage Their Debt

Seniors Racking Up Debt

Simple Debt Reduction Guide

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MoneyTips

Does your family celebrate Amazon Prime Day? Over half of Amazon customers are estimated to be members of Amazon Prime, a staggering figure. Prime Day 2018 was the biggest shopping day of the year, exceeding even Black Friday and Cyber Monday, with 89 million visitors logging on and over 100 million products sold. Prime Day 2019 starts on Monday, July 15th at 12 a.m. PT and for the first time ever will run for 48 hours.

Amazon Prime members gain several membership advantages, but one of the greatest is free shipping year-round. For only $119 per year, you get free shipping and rapid delivery — and if you use Amazon even semi-regularly, you will save a bundle on shipping charges compared to the $119 membership. That begs the question: how can Amazon afford free shipping with Prime membership at only $119? The price was raised from $79 to $99 in 2014 and from $99 to $119 in 2018, but shipping costs are not the fundamental reason why.

It is not an issue of volume; ...

Amazon Passes Walmart

Avoiding Delivery Headaches

Social Security Myth Busters

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MoneyTips

America's credit card debt is nearly $1 trillion, according to Federal Reserve data. How much of that debt belongs to your kids?

The 2019 Parents, Kids, and Money Survey from T. Rowe Price shows that credit card use has skyrocketed among 8-to-14-year-olds over the past seven years – from 4% in 2012 to 17% today. That's almost as high as the percentage of kids with checking accounts (19%).

Only 41% of kids with credit cards pay their bill. Parents pay 59% of the time – although this statistic could be misleading. Kids in the 8-year-old to 14-year-old age range are probably paying off their debts with allowance money or earnings from chores. Parents are responsible for charges in any case since children that young can't open credit cards under their own name.

If you've added your child...

3 In 10 Kids Have Used Parents' Credit Or Debit Cards Without Permission

Children and Cash

7 Money Tips To Know Before Adding An Authorized User To Your Credit Card

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MoneyTips

Few things are more effective at fighting identity theft than credit freezes. When you freeze your credit, potential lenders can't access your credit file to assess the risk of lending money to you. No risk assessment means no credit – so identity thieves can't use your stolen information to create fake accounts in your name.

You can't open new credit accounts in your name, either. When you're ready to shop for a new home or refinance your existing one, you must temporarily remove (thaw) the freeze so lenders can assess your credit.

Fortunately, the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 removed credit freeze barriers by making them free and simple to apply and remove. If you request a credit freeze with any of the three major credit reporting agencies (TransUnion, Experian, and Equifax) over the phone or via a secu...

Mortgage Pre-Approval Necessities

How To Set Up A Credit Freeze

10 Biggest Scams Of The Year

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MoneyTips

Most people say they plan for retirement, but they are really planning for financial independence. The day you achieve financial independence is a great day – you have accumulated enough wealth to not have to work again, and will be able to retire whenever you choose. (We use the word "day" symbolically; as a practical matter, your financial independence is likely to arrive more gradually.)

How do you plan for financial independence? Here are seven simple steps to follow.

Set A Target Date and Plan Accordingly – Decide when you want to achieve financial independence, and use online calculators to help you run different scenarios based on that date. This will help you plan your savings and investment needs.

Spend Wisely – Being frugal is not being a cheapskate. Cheapskates will not pay for anything. Frugal people will pay for value. If it doesn't bring you value – and that could be emotional enjoyment as well as financi...

Fill Your IRA With Low-Cost Index Funds

Our Spending and Saving Habits (Infographic)

Top 6 Things to Do for Your Retirement at Age 50

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From its humble beginnings in a basement in East Peoria, to becoming a multi-million dollar company with plants in numerous states and countries, Jordan Manufacturing has seen its share of cha…

The Pulaski/White Rural Telephone Cooperative (PWRTC), dba LightStream, Board of Directors are excited to announce it has named Brent Gillum to serve as CEO. Gillum will be responsible for lea…

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Some businesses get started in the basement, while others might start in the garage. Wrede and Sons of Monticello got their start on a farm located on Diamond Point Road, two miles east of Mon…

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Mosey Down Main Street is synonymous with the lively atmosphere of downtown mixed with a business community that stays open for business whenever it’s given the chance.

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The 84th Annual Purdue Farm Management Tour took place throughout Newton and Jasper Counties this week. The concluding event took place at Remington Farms on Friday. It included a panel discus…