The present study investigates the relationship between materialism and psychological well-being, while examining the roles of religiosity and educational level. A cross-sectional quantitative design was used with young adults aged 18–30 years. Standardized scales assessing materialism, religiosity, and psychological well-being were administered. Results revealed that materialism was negatively associated with well-being, while religiosity showed a positive association. Educational level demonstrated a moderating trend. Mediation analysis indicated that materialism partially mediated the relationship between religiosity and well-being. Findings are discussed within the framework of self-determination theory, with implications for psychological interventions and value-based education.