The subject of this paper is the definition of the term "financial capability", its impact on financial behaviour and financial well-being, the specifics of the financial capability of young adults and research on the elements and determinants of financial capability of young adults. The concept of financial capability is sometimes equated in the literature with the concept of financial literacy, but many authors believe that financial literacy is not enough, and that the development of financial capability requires participation in economic life. There is no agreement in the literature on the structure of financial capability, therefore the aim of the research was to approach the most precise determination of the elements and determinants of financial capability. The research method was focus groups. The focus groups included 39 participants. Their age ranged from 19 to 25 years. The results of the research confirmed the existence of four main elements of financial capability: money management, planning, product selection and information. Among the determinants whose influence is significant for financial capability, self-confidence, self-control, emotions, rationality, motivation, level of knowledge, skills, and attitudes as internal and upbringing, opportunities, environment, education, and economic situation as external factors stood out.