This is my motto: A failed child indicates a failed parent. The only true success in life for a parent is the success of the children and this does not depend on financial status (on the contrary, many children of wealthy families are "spoiled"). This depends on the SELF DISCIPLINE of the parents themselves. I will refer to a post I read some time back which said that every problem in the house can be traced back to a failure on the part of the head of the house.
Train up a child in the way he should go: and when he is old, he will not depart from it Pr. 22:6
Chasten thy son while there is hope, and let not thy soul spare for his crying. Pr 19:18
He that spareth his rod hateth his son: but he that loveth him chasteneth him betimes. Pr 13:24
Foolishness is bound in the heart of a child; but the rod of correction shall drive it far from him. Pr 22:15
Withhold not correction from the child: for if thou beatest him with the rod, he shall not die. Thou shalt beat him with the rod, and shalt deliver his soul from hell. Pr 23:13-14