Meaningfulness is an important component of well-being, and sources of meaning provide life orientations (Schnell, 2010). Goals are important for happy and meaningful life (Brdar, 2006), and they give structure and purpose to life (Emmons, 2003). Research was conducted to examine the connection between life aspirations and sources of meaning in life with hedonic and eudaimonic well-being. In addition to that, we wanted to examine the association between grit and well-being, and the role of perceived standard of living in types of aspirations that are being chosen. Research was conducted online on a sample of 490 participants from Croatia (318 female and 172 male) with average age of 24.51 years. Following questionnaires were administered: Aspiration Index, Grit-S, PANAS, Personal Meaning Profile, Questionnaire for Eudaimonic Well-Being, Satisfaction with Life Scale and Psychological Well-Being Scale. Results showed that both intrinsic and extrinsic aspirations contributed more to eudaimonic than to hedonic well-being. Grit had greater contribution to well-being than both types of aspirations. Strong wealth aspiration was negatively associated with well-being, and standard of living was not associated with extrinsic nor intrinsic aspirations. Sources of meaning were more associated with eudaimonic type of well-being, than they were with hedonic. Achievement and acceptance had the highest associations with well-being. Relationships and achievement were the most important sources of meaning for our participants. Results indicate that sources to which young people give meaning are important for their well-being, and so are their aspirations and perserverence as well. This research has once again confirmed the advantage of dedication to intrinsic over extrinsic aspirations, and also the importance of achievement for young people's meaningfulness.