With a sample of 139 rural, single-parent African American families with a 6- to 9-year-old child, we traced the links among family financial resource adequacy, maternal childrearing efficacy beliefs, developmental goals, parenting practices, and children's academic and psychosocial competence. A multimethod, multiinformant design was used to assess the constructs of interest. Consistent with the hypothesized paths, financial resource adequacy was linked with mothers' sense of childrearing efficacy. Efficacy beliefs were linked with parenting practices indirectly through developmental goals. Competence-promoting parenting practices were indirectly linked with children's academic and psychosocial competence through their association with children's self-regulation.