The article is devoted to the study of the peculiarities of the formation of speech competencies in bilingual young children (5-12 years old) who learn English and Russian as second languages. The article examines the psycholinguistic aspects of early language acquisition, as well as methodological approaches used in educational practice. The article analyzes typical difficulties encountered in the formation of lexico-grammatical and communication skills, as well as practical strategies used by teachers and parents. Special attention in the study was paid to the practical use of effective techniques aimed at speech development in bilingual children. Special attention is paid to the influence of the native language, cognitive and emotional factors, as well as the educational environment on the development of language competence. The conclusion is made about the importance of an integrated and individualized approach to teaching children two languages.