Every day for 3 weeks, a sample of college students described the events that occurred each day and provided measures of their self-esteem, depressogenic thinking and mood. They also provided measures of depressive symptoms and the social support they perceived from friends and family members. A series of multilevel random coefficient modelling analyses found that daily well-being was positively related to the number of positive events that occurred each day and was negatively related to the number of negative events. Relationships between well-being and positive events were stronger for more than for less depressed participants and relationships between well-being and negative events were weaker for participants who perceived more support from friends than for those who perceived less support. Depression was unrelated to the strength of relationships between negative events and well-being, and the social support from friends was unrelated to relationships between positive events and well-being. Surprisingly, relationships between negative events and well-being were stronger for participants who perceived more support from family members than for those who perceived less support. Copyright © 2006 John Wiley & Sons, Ltd.