What happens to children who are disadvantaged as infants? What do children themselves think about their childhood experiences? The Life Chances Study is a longitudinal study initiated by the Brotherhood of St Laurence to explore the impacts of family income and associated factors on children growing up. The study commenced with 167 children born in inner Melbourne in 1990. All the families have been interviewed at six stages, most recently when the children were aged 11 and 12. Data was collected from the children themselves, their parents and teachers. This article draws on the longitudinal data to discuss some of the changes the families have undergone over the children's early years, including geographic mobility, family structure and family income. Three-quarters of the children who were born into low-income families remained in low-income families 12 years later. Case studies of children who have grown up in families on low incomes are presented. The children's own views are outlined and some of the policy implications raised. (Contains 2 notes.)