Many people are seeking ways to live a happier and more fulfilling life. There is a plethora of books, articles, and expensive workshops about how to be happy. One quick, easy, and free way to improve happiness and overall well-being is to practice gratitude. Practicing gratitude only takes minutes to do but it has lasting effects. This paper offers definitions for both gratitude and well-being, reviews current literature, and gives a critical analysis of two recent studies. In addition, this paper explains how gratitude and well-being are measured, offers various ways to practice gratitude, and states why gratitude and well-being are important. KEY WORDS Happiness, well-being, gratitude, satisfaction, affect.