At the heart of this study is the relation between the micro-level of the family and the individual level of the child/young person. Interpreting social biographies is in this book placed in the broader social context of postsocialist transformation, since the analysis includes the influence of social circumstances on the changing amount and composition of families’ capitals, as well as on opening or closure of structural opportunities for the young person through systematic or institutional support. The analysis is based on data obtained in a longitudinal qualitative study conducted in three waves with families living in two different Belgrade municipalities.