Happiness is the buzzword of a digital generation, but it’s a frustratingly ephemeral quality.

No sooner do we think we have it, then it slips through our fingers again. Or we spend our whole time in relentless pursuit of it – so much so, that we don’t live in the present, a quality that most psychologists will say is central to feeling content.

It’s this fallacy that has led wellbeing author Emily Esfahani Smith to stipulate that we should forget about happiness and instead focus on creating meaning in our lives.

In her new book, The Power of Meaning: Crafting a Life That Matters, Smith argues that meaning has more substance and impact than happiness, and is ultimately more important to us when we look back on what we’ve achieved.

“If you’re chasing happiness, you’re building your castle on a very shaky foundation because the feeling can slip away easily,” Smith tells Today. "Meaning is something that endures, that you can seek out and find."

“When you’re on your death bed and reflecting back on your life, what you are going to be proudest of are the things that made your life meaningful,” she adds.

Why you should stop chasing happiness and focus on meaning instead