THE RELATIONSHIP BETWEEN PARENTING STYLES AND PARENTAL FINANCIAL MONITORING
THE RELATIONSHIP BETWEEN PARENTING STYLES AND PARENTAL FINANCIAL MONITORING

Summary/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 quantitative research approach and used self-administered questionnaire to collect data from young adults in two provinces (Gauteng and Mpumalanga) in South Africa. Correlation analysis was used to analyse data. The results showed that there is a significant positive relationship between authoritarian, neglectful, authoritative, and a permissive parenting styles with parental financial monitoring. Thus, this indicated that there is a significant positive relationship between parenting styles and 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 programmes 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. There is no study that has been conducted before in South Africa.

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