This cycle of consumption never results in peace. It never brings you true happiness. Only stress, anxiety, anger and frustration.
Modern life can be overwhelming. You have smartphone, tablet, desktop, computer and TV in your face all day long. This causes mental dispersion, a sort of chaos of the mind. You are now connected to the rest of the World 24/7. This maybe great, but it has its disadvantages.
You spend so much time looking at screens instead of real people, put so much focus on building virtual friends instead of nurturing a small group of close friends in your daily life and technology has made you so fanatical about trying to keep up with a million things at once that your productivity sinks, your mind never rest and you build up stress and anxiety.
This on top of your obsession for material items are the major reasons your life have become over-complicated. You connect happiness to getting the next new gadget or some other toy or trophy to the point where, unless you get it, your mind is never at peace.
And when you do get it, the feeling quickly dissipates like sand sifting through your hands. Then, you are off to acquire something else to get the feeling back.
Simplifying your life accepting the present moment as it is you cultivate the grounds for true happiness, not built upon outside forces, but upon your own inner peace. Simplifying your life is about removing distractions.
It is about finding peace in the breathing room you gain from removing those distractions and mindfully choosing to place your time with that which matters most to you in life: be it your children, wife or husband, mother or father or your spiritual practice or faith.