LINO LAKES, Minn. - The kitchen serves as the monthly financial meeting place for the Shroyer family and dad serves as the banker.

Every month, dad doles out hundreds of dollars to the three Shroyer children, money that would normally pay for every day necessities and activities is given to the kids first.

The children have to budget, they have to save and they have to donate.

"If we don't teach kids as parents about finances and basic money management, they're not going to learn it anywhere else," explained mother, Tracie Shroyer.

The idea is that the kids will make smaller mistakes now to avoid greater ones down the road, but something greater has alreadyhappened.

"When I'm making big purchases I look for coupons and definitely only buy it when it's on sale," said Quinn Shroyer.

"You do have to make choices and you have to think about how much money and it gives a lot of freedom and that's one of the things I like about it," said Tatiana Shroyer.

"As long as I stay inside my budget, I can do whatever I want with my money," smiled Kelty Shroyer. "And it gives a lot of freedom and that's one of the parts that I really like about it."

It's an understanding of finance the Shroyer's believe can only be learned by doing.

When the kids were just seven andeight years old, they were given a full budget. They've been responsible for buying their own clothing, school lunch and luxury items ever since and the budgeting plan has gone so well, they wrote a book, "Investing in your 401 (k) kid."

The purpose of the book and the family's website is to help parents teach their own children about finances and money by using some simple guidelines.

  • Make the idea of teaching your kids to be financially literate less intimidating
  • Providetools necessary to start your kids on the right track for managing their own money
  • Offer support (and occasionally comic relief) during the journey
  • Ensure kids of today are more financially savvy than when you left your parents' home

For more information, go to

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