This paper presents the findings from a project investigating the circumstances, experiences, perspectives and service needs of young people caring for a family member with a disability or long-term illness. Using qualitative methods, our research explored the experiences of two cohorts of young carers--younger carers aged 7 to 17 years and young adult carers aged 18 to 25 years. The concept of "bounded agency" offers an explanation for the way that younger carers' and young adult carers' decisions and aspirations can be shaped by the barriers and contexts in which they find themselves. The study compares the impacts of caring on the participants' education, employment, health and social life. Important differences are identified, particularly relating to young adult carers' future aspirations as they approach key normative transitions into young adulthood. The paper concludes with implications for services and policy for young carers. (Contains 1 table.)