This article presents, through a series of studies conducted in six countries, the development, psychometric testing, and cross‐cultural validation of an independent measure of materialism motives involving three dimensions: needs for happiness, social recognition, and distinctiveness. We demonstrate that materialism (beliefs about the importance of money and material possessions in their life) influences life satisfaction through the fulfillment of these three materialism motives. Furthermore, and non‐surprisingly, these three motives are also related to personal values. Theoretical and policy implications of this new measure are considered, and avenues for future study presented.