Each day for three weeks during the first semester and again during the second semester of an academic year, 40 participants provided measures of their psychological adjustment and described the positive and negative events that occurred each day. For four of the five measures of daily adjustment, reactivity to negative events decreased from the first to second semester, whereas reactivity to positive events were relatively unchanged over the year. These results suggest that familiarity with a particular environment moderates reactivity to negative daily events. More familiarity is associated with decreased reactivity.