This study aims to empirically analyze the influence of well-being on small luxuries and motivation among the MZ generation. Data collected for this study were analyzed using PASW 18.0, employing reliability, frequency, descriptive statistics, independent samples t-test, one-way ANOVA, correlation and multiple regression analysis. The results of the study were as follows. First, small luxuries were found to be relatively high, self-comfort and show-off were at moderate levels, whereas self-reward was at a level above moderate. Second, significant differences in small luxury and motivation were identified according to gender, age, monthly average allowance, purchase number and purchase cost. Third, Small luxury and show-off increased more with life satisfaction, positive and negative affect, self-comfort increased more with life satisfaction, positive affect, and less negative affect, and self-reward increased more with life satisfaction and negative affect. Fourth, the variable most related to small luxury and motivation was found to be well-being. In the future, research should be conducted that takes into account various variables related to small luxury from various angles.