We provide an initial empirical test of three conceptual models reflecting possible patterns of causality effects in the relationships between time perspective (TP), gratitude, savoring the moment, and prioritizing positivity (referred to as well-being boosters, WBBs), and mental well-being. The first one, trait-behavior model, states trait TPs increase the tendency to use specific WBBs in order to increase mental well-being. The second model, the accumulation model, proposes that a regular practice of particular WBBs fosters adaptive TPs which in turn impact well-being. The third model, the feedback loop, suggests that WBBs and positive TPs reciprocally strengthen one another and together contribute to higher mental well-being. Participants (N = 206; Mage = 30.90, SD = 8.39, 74% females) filled questionnaires measuring TPs, WBBs, and well-being twice, in a one-year interval. Using cross-lagged panel analyses we examined the direction of causation in the relationships among the variables. Past-Positive had a significant cross-lagged effect on gratitude, Present-Fatalistic had a significant effect on savoring. Both Past-Negative and Present-Fatalistic perspectives displayed significant causal effects on well-being. The results partly support the trait-behavior model. However, given that the second wave was conducted shortly after the onset of the COVID-19 pandemic, further studies are required to better understand the interplay between the studied traits.