I like the fact that Paul addresses both children and parents in this passage (and both slaves and masters afterwards).
Yes, children are to be obedient and honour their parents, but we are supposed to parent in love, with patience and understanding, not as domineering authorities.
This transfers to other areas of authority as well - both sides need to treat each other with respect, submitting first to the Lord’s authority over our lives.
Tomorrow: Catch Up Day
Monday’s Bible In a Year Passage: Leviticus 16-18, Philippians 1