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Abstract
<title>Abstract</title> <p>This study examined the structural relationship between perceived parental financial transparency and two outcome domains, objective financial literacy and behavioral decision-making heuristics, among 200 urban adolescents aged 15 to 18 in Pune, India, in what is, to the author’s knowledge, the first joint test of these three constructs in an Indian adolescent sample. Guided by family financial socialization theory and Bandura’s social cognitive theory, a cross-sectional survey measured perceived parental financial transparency (PFT; alpha = .84), objective financial literacy (FL; alpha = .73, decomposed into basic and sophisticated subscales), and behavioral decision-making heuristics (BDMH; alpha = .75). PFT was unrelated to basic financial knowledge or total BDMH, but was consistently and specifically associated with sophisticated FL across bivariate and multivariate tests. Mediation analysis found a significant positive indirect association between PFT and BDMH through sophisticated FL (B = 0.031, 95% CI [0.008, 0.067]), despite a non-significant total effect, a pattern in which the indirect pathway appears offset by a weak, opposing direct effect (inconsistent mediation, or suppression), though this interpretation is provisional given the direct effect’s wide confidence interval. Female respondents scored higher than males on BDMH (p = .015, uncorrected), but this did not survive false discovery rate correction (corrected q = .150); household income and family structure showed no reliable association with any variable. The sample skewed toward advantaged, high-literacy households. Parental transparency predicts sophisticated but not basic financial literacy, suggesting the home operates as a narrower, more specialized channel than current theory or policy generally assumes.</p>