The purpose of this study was to investigate the relationship between children s perceptions of their parents beliefs and material values with their own belief systems and values in their developmental path. Eight hundred and ninety two young people (892), residents of the 27 Brazilian states and between the ages of 18 and 25 participated in the study. According to the theoretical framework, parents are the main responsible for the transmission of beliefs and values to their children. This process is dynamic, interactive and can be altered according to the sociocultural and historical emphases of each generation. Young people between the ages of 18 and 25 belong to generation Y and their parents, to the generations Baby Boomers and X. The study showed that, parents transmitted materialistic values and beliefs during their children s life trajectory, despite the numerous and intense transformations between these generations that happened in the West. Beliefs about status, profit, wealth, and authority can be used to define the materialistic values. The research showed that, in the course of material parenting, punishment and rejection during adolescence are possibly associated with the acquisition of materialistic values and beliefs in the future. The study also pointed out that the generational transmission of values and materialistic beliefs highlights the extrinsic life goals during the development trajectory. It is deemed that this study has contributed to the area of Health and Developmental Psychology.