"pleasures (such as beautiful scenery or an evening with friends) and comforts (such as a fancy car or the latest gizmo). You tire of comforts but never of pleasures"
If the correlation between money and happiness is an area of interest to you , you may find this article on livemint real interesting.
Money is definitely vital for those who are in need of basic necessities of life and beyond a point it's irrelevant for happiness. This is very nicely highlighted in the article.