This chapter summarizes the psychological frameworks that have theorized why and how a Materialistic Value Orientation (MVO), has an impact on well-being. It reviews and synthesizes the substantial body of research in psychology and closely related disciplines that provides a growing base of evidence for the impact of MVO on personal, social, consumer, and ecological well-being. The chapter focuses on a future research agenda that is conducive to providing an extended evidence case for improved understanding of how MVO affects adults as well as children, and for aiding in the development of psychological and policy interventions to curb MVO. The Consumer Culture Value Impact Model conceptualizes MVO as consisting of materialistic motives and materialistic value internalization. MVO appears to be detrimental, not only to individual and interpersonal well-being, but to environmental well-being as well. MVO is linked compulsive buying tendencies through motivations for buying that are focused on repairing and improving self-identity, mood, and emotions.