We have all met materialistic people. These individuals want the best of the best, whether it is the latest phone or a top-of-the-range car. But even when their demands are met, these types of characters may not be happy. And now, new research suggests that materialistic individuals are more likely to be depressed and unsatisfied with life.

According to the research team, who recently published their findings online in the journal Personality and Individual Differences, materialistic people find it more difficult to be grateful for what they have, which causes them to become miserable.

Lead study author Jo-Ann Tsang, associate professor of psychology and neuroscience at the College of Arts and Sciences at Baylor University in Waco, TX, explains that gratitude is a positive mood that is about other people rather than ourselves.

“Previous research that we, and others, have done finds that people are motivated to help people that help them, and to help others as well,” she adds. “We’re social creatures, and so focusing on others in a positive way is good for our health.”

However, the team says that people who are materialistic tend to be “me-centered.” They are more likely to focus on what they do not have and are unable to be grateful for what they do have, whether it is their family, a nice house or a good job.