Abstract
This study highlights the impact of parental involvement on the financial habits of young people, focusing on saving and spending behaviors. The research aims to determine whether parental involvement in financial education and decision-making processes influences the financial literacy and habits of children as they transition into adulthood. The study employs a mixed-methods approach, combining both qualitative and quantitative data collection and analysis, with a final phase of integration of data through EFA. The collected data were analyzed through individual interviews, focused group discussion from the 200 respondents. A set of 100-item questionnaire was formed and derived from 7 emerging themes of the study which include interactive learning provision, financial discipline practice, role modelling good financial habits, transparent communication skills, financial awareness, financial security and stability, setting of goals. Each factor is represented by its number of items. KMO and Bartlett’s Test of Sphericity revealed that factor loadings are adequate for factor analysis. It was found out that emerging themes were very significant and high correlated on the saving and spending habits of young people.