Exposure to adversity poses a great risk for children’s psychological wellbeing and may cause immediate, and sometimes prolonged, psychological problems. Investigating how adverse experiences are linked to child outcomes is critical for the formulation of remedial strategies, interventions, and policies to improve children’s psychological wellbeing. One such adversity is armed conflict, where children often experience life-threatening situations, injuries, unsafe or inadequate housing, poverty, as well as family dysfunction, among others. This chapter summarizes the literature on adverse life experiences in childhood, particularly for experiences of armed conflict and poverty, and the role of these in children’s psychological wellbeing. Then, it focuses on the research investigating the psychological wellbeing of children living in the east of Turkey, where socioeconomic adversity, low-intensity armed conflict, and familial risk factors (family violence) might pose a threat for their wellbeing. Finally, the chapter presents insights for tailoring intervention programs and policies in the east of Turkey, as well as directions for future research.