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This topic has created large controversies. So what’s the takeaway? Well, it’s true that you need a certain level of income to be happy, but happiness depends on much more than just income. Where you live plays a factor, and your emotional well-being is a different measure than your overall life satisfaction.
Most importantly, spending money on material possessions or a nicer house just isn’t going to make you happier. Instead, if you want to be happier, you should focus less on yourself. People tend to be better off when they spend their money in service of other people. Happiness is a product of making others happy.
It's a generally known fact that when you make people happy, you in turn become happy