Climate change is not simply an environmental problem; it is a phenomenon that is impacting social, economic, and psychological aspects of people significantly. The present paper discusses the effects of climate change on both objective well-being including health, income, and living conditions and subjective well-being including happiness, life satisfaction, and emotional resilience. Through the prism of hedonic and eudaimonic well-being, we demonstrate that people are affected by climate change not only by their livelihoods, infrastructure, and access to resources but also by stress, anxiety, and uncertainty about the future. Globally, the evidence is pointing at increased mental health issues, eco-anxiety, and ecological grief, economic losses, decreased agricultural output, and destruction of homes and basic services. Though some communities show resilience by adapting together and social support, a number of them have difficulties with the growing vulnerability and escalating inequalities. This paper highlights the necessity of policies that extend beyond economic growth and are concerned with the entire human effects of climate change by considering both the material and emotional aspects of well-being.