My take on this statement is
If your poor and struggling day to day- money certainly improves your level of happiness. Less time is spent worrying about utilities, if something unexpected crops up etc etc.
if your comfortable financially then to a degree no it doesnt buy happiness, yes you can buy XYZ or book an extra holiday however you don’t have to worry about utilities etc so its not improving your life on that front.
What money doesn’t buy is:
Time
Health
Family/ friends
I recently had this conversation with BIL who is very comfortable in their lives however is always seeking more, this means he is now looking at working abroad for X amounts of months per year leaving at home wife and kids. But ‘its money, its X amount/ month’ and is completely blinded by the money.
Wife currently doesn’t need to work as income is stable from BIL’s business, they have multiple foreign ‘big’ holidays per year, live in a lovely house, x2 newish cars and don’t struggle day to day. BIL works on average 3 days a week and spends the rest doing hobbies/ with family. Yet he thinks more money will improve his life - each to there own but i can’t see in these circumstances how his life will be improved it will tally up to about 2/3 year working away.
Its all well and good having the money however no time to spend it.