Life satisfaction refers to one's sense of happiness with or approval of their life and accomplishments. 

New York University

Three main components:
- Life satisfaction
- Positive affect
- Negative affect

Diener's Model of Subjective Well-Being 

Diener, E. (1984). Subjective well-being. Psychological Bulletin,
95, 542–575.

Positive affect refers to one's experiences of pleasant or happy emotions on  a frequent basis.

Negative Affect refers to one's experiences of unpleasant emotions and ability to manage or overcome those emotions.