Counterfactual thinking is a common mental phenomenon that occurs in our everyday lives. Counterfactual thoughts are the mental constructions of alternatives to reality - the 'what if' and 'if only' thoughts we consider when pondering how an outcome could have turned out differently, for better or worse. The research presented in this book explores the affective and preparatory consequences arising from the sequential consideration of both better and worse possible worlds in response to somewhat positive, negative, and neutral outcomes. Thus, this research draws upon the functionalist account of counterfactual thinking. The research presented extends the investigation to the aptness of preadolescent children in considering counterfactual alternatives and examines the resulting affective and preparatory consequences.