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Under the context of the “Double Reduction” policy promulgated by the Chinese government has been implemented for more than one year, the study adopted the ABC model to explore the relationship between parent's familiarity with the DRP (PFD), educational anxiety (PEA), and educational investment (PEI), so that find out the real perception of parents and the factors that affect their education investment behavior. Through an online survey, the study collected 365 valid responses and built multiple linear regression models. The results revealed that the PEA would positively predict PEI and the PFD was not a predictor for PEI. However, when the PFD moderated the relationship between PEA and PEI, the PFD and the PEA would positively predict the PEI.