I would caution against reading too much into studies, surveys and statistical data. These are good for policy makers, governments and businesses to cater to the masses. For the individual, we should know ourselves, our unique situation and circumstances better.

When we bought our first home, we have had to take on a big loan. While we were excited with our new home, we were also worried about the loan. Our worry about the loan dampened our level of happiness.

When our wealth grew, and when we upgraded to a bigger condo, we were able to pay in full the purchase. We were very excited and happy with our new home. No doubt, the need to dispense with the loan remove our worries and increased our level of happiness.

Likewise, when we bought our first car, we had to forgo our annual vacation for that year. Now we have two cars and still go for our annual vacation which was good for family bonding and relaxation. All this was possible through wealth.

Wealth gives one options, and the ability to choose what to do to make yourself happy. For eg, if you are terribly unhappy at work, but need the money, too bad, you will have to suck it up and slog on. On the other hand, if you have sufficient wealth, you could just walk away, and retire or find another job with lower pay but one that you will be happy in.

Helping others can make you happy, we all have experienced this. When you have no money, you help by contributing your time. But when you have wealth/money, you can do both - donate money and contribute your time - double happiness.

I could go on with examples of what money/wealth can help you achieve happiness.

So don't be mistaken, wealth / money is a means to achieve happiness and your goals.