Previous research suggests a relationship between poverty, caregiver depression, caregiver stress and children's externalizing behaviour. However, little research exists to suggest the manner in which these concepts are interrelated. Latent growth curve analyses were conducted on caregiver–child dyads data from the Early Head Start Research and Evaluation Project to identify the path through which poverty, caregiver depression, caregiver stress and child externalizing behaviours were related. Analyses identified a path through which caregiver stress and depression mediated the effect of poverty on child externalizing behaviours. In addition, the influence of caregiver depression on child externalizing behaviours was mediated by caregiver stress. Implications and limitations of these findings are discussed.