I was talking about this to some people at school, and we agreed that money does buy happiness, but it depends on the person to "absorve" it becuase if you are totally depressed,for example your wife died, money won't bring her back and you enter a vicious cicle trying to find another partner when she was your only true love. Studies in Brazil also show that people from favelas (the slums) are happier than CEOs and buissness men.
But does you need to be happier then you already are? Sometimes your life is pretty okay so why try to improve it. How higher you get... how bigger the fall is.
5 reason money can buy happiness read that with a pinch of salt, it is after all something i found while mindlessly surfing the net.