Gifted young people from low socioeconomic backgrounds are underrepresented in gifted and talented programs in New Zealand schools (Ministry of Education, 2000) and in recent years this has been highlighted as an area of concern. The aim of this paper is to indicate the extent to which giftedness and financially challenging circumstances influence the identities of young people from low socioeconomic backgrounds. This study investigates the lived experiences of 93 survey participants and eight interviewees aged between 17 and 27 years, who grew up in financially challenging situations in New Zealand. The research indicates that socioeconomic adversity can actually contribute significantly to adaptive outcomes for gifted young people from financially disadvantaged backgrounds. Moreover, socioeconomic adversity is intrinsically valuable in relation to aspects of identity. This study also suggests that the limitations of giftedness can have more detrimental effects on an individual’s sense of identity than limitations associated with their socioeconomic circumstances.