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Let's discuss the matter in a little more detail:
Some reasons why money can buy happiness:
Fulfillment of Basic Needs: Money is very important for fulfilling basic needs like food, clothing, shelter, medical etc. When these needs are met, people can be at peace.
Freedom: With money people can live as they wish. You can buy your favorite things, travel, fulfill your dreams.
Social status: People have a certain status if they have money in the society.
Security: Having money makes people feel secure in situations like sickness, unemployment etc.
Some Reasons Money Can't Buy Happiness:
Relationship to others: Money cannot build good family relationships, friendships, social relationships.
Complacency: Money cannot buy complacency, peace, spirituality.
Health: Money does not buy a healthy body.
Time: Money cannot buy time.
What the research says:
• Many studies have shown that after a certain point, increasing income does not increase happiness.
• Still other studies have shown that for those with low incomes, an increase in income can lead to a slight increase in happiness.
Conclusion: Money can buy happiness, but not all kinds of happiness. Apart from money, many other factors like health, good relationships, self-satisfaction etc. are important for happiness.
So, money can be a means of happiness, but not the only source of happiness.