The Importance of Possessions Study is based on 8 years of data collected from 1348 students at an ethnically diverse small college in Southern California. Self-esteem and life satisfaction were greater among both women and men who were closer to their best male friend or their best female friend. And happiness was greater for men who were closer to either their best male friend or best female friend. Photos of family members, letters or messages, and gifts were more important to women than to men, while cellphones, cars, and computers or tablets were about equally important to women and men. Many of these possessions were more important to women and even more so to men who were closer to their best female friend or best male friend.