THE RELATIONSHIP BETWEEN PARENTING STYLES AND PARENTAL FINANCIAL MONITORING

Adam Ndou and Jethro Godi
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Adam Ndou: University of South Africa
Jethro Godi: University of South Africa

Social Sciences and Education Research Review, 2024, vol. 11, issue 1, 96-105

Abstract: Parenting styles are an important factor in how parents raise their children. This study investigated the relationship between parenting styles and parental financial monitoring. Parenting style was measured through authoritarian, neglectful, authoritative, and permissive. This study adopted a quantitative research approach and used a self-administered questionnaire to collect data from young adults in two provinces (Gauteng and Mpumalanga) in South Africa. Correlation analysis was used to analyze data. The results showed that there is a significant positive relationship between authoritarian, neglectful, authoritative, and permissive parenting styles with parental financial monitoring. Parents should invest more time in understanding and evaluating their parenting styles and adopt authoritarian, neglectful, authoritative and permissive parenting styles as they were found to support and foster parental financial monitoring. Financial educators and government must design and implement financial programs aimed at making parents aware of different parenting styles. This study contributes to the existing body of knowledge by empirically testing the relationship between parenting styles and parental financial monitoring.

Keywords: parents; financial socialization; parenting styles; financial monitoring (search for similar items in EconPapers)
JEL-codes: D1 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:edt:jsserr:v:11:y:2024:i:1:p:96-105

DOI: 10.5281/zenodo.15258145

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