"Honour thy father and thy mother: that thy days may be long upon the land which the Lord thy God giveth thee."
That's what the Bible says, God's Word. And God's Word is not to be taken lightly. As we see what would happen to a child that does not honour his parents in Deuteronomy 21:18-21, which reads: "If a man have a stubborn and rebellious son, which will not obey the voice of his father, or the voice of his mother, and that, when they have chastened him, will not hearken unto them: Then shall his father and his mother lay hold on him, and bring him out unto to the elders of his city, and unto the gate of his place; And they shall say unto the elders of his city, This our son is stubborn and rebellious, he will not obey our voice; he is a glutton, and a drunkard. And all the men of his city shall stone him with stones, that he die: so shalt thou put evil away from among you; and all Israel shall hear, and fear."
Jeremiah 17:10 says: "I the Lord search the heart, I try the reins, even to give every man according to his ways, and according to the fruit of his doings." We should obey our parents with a cheerful heart. We shouldn't obey them grudgingly, with the attitude, 'Well, I'll do it, but only because I'll get in trouble if I don't. As I said a moment ago, the Lord searches the heart. Even if Mom and Dad don't know what we're thinking or feeling, God does. And He will reward us according to our doings.
Parents only look after their children. They usually know best. If they tell you not to hang out with certain group of people, and you decide to dishonour them by disobeying and you hang out with those people, and they turn out to be a murderous gang, turn around and kill you - what then? It's too late to go back home, say sorry to you parents and start trusting them. Or if they say, 'Look both ways before you cross the street,' and you deliberately rebel, look straight ahead while crossing, and get hit by a car, what then? "Honour thy father and thy mother: that thy days may be long upon the land which the Lord thy God giveth thee."
"Correct thy son, and he shall give thee rest; yea, he shall give delight unto thy soul." -Proverbs 29:17 It seems that the children who are disciplined by their parents are more honouring, respectful, and obeying to their parents. But today, the parents who actually discipline their children seem to be in the minority. But even if some children are not disciplined by their parents, the Bible still says, "Honour thy father and thy mother..." and it ought to be obeyed.