Individuals adjust their behavior on social media to varying extent, and commonly in their idealized way. Most studies have focused on the problems associated with materialism and social media use, yet their potential positive contributions remain less clear. In fact, impression management holds potential for both negative and positive: it has been linked with materialistic attitudes, but also increased amounts of self-reported social capital. This study examines how young people's materialistic values connect with status-seeking impression management on social media, and subsequently to social capital, within the same model. Eight hundred Finnish participants aged 15–19 participated in our structured phone survey. We applied structural equation modeling to examine the connections between materialism, impression management, and online social capital. Our findings show that materialism is positively related to impression management, while impression management is positively associated with online social capital. Additionally, we found positive indirect effects between materialism and both bridging and bonding social capital through impression management. In sum, more materialistic young people who engaged in higher impression management had higher amounts of social capital.