This study examined the associations between self-discrepancies, assessed both idiographically and nomothetically, and measures of depression, anxiety, and self-esteem. Hierarchical regression analyses revealed that actual-ideal and actual-ought self-discrepancies were significant predictors of the three measures of psychological well-being, even while controlling for individual variability in ratings of the actual self. Further analysis indicated these effects were primarily attributable to the nomothetic, rather than the idiographic, measures of self-discrepancies. Lastly, the results failed to support the central predictions of Higgins' (1987) self-discrepancy theory. Specifically, for both the idiographic and nomothetic measures the actual-ideal discrepancies were not found to be uniquely predictive of depression and the actual-ought discrepancies were not found to be uniquely predictive of anxiety. The results were discussed with regard to the general self-discrepancy literature as well as self-discrepancy theory in particular.