It's an age-old question, and two American researchers think they have the answer: it does ... and it also doesn't.
More money may bring a life you think is better, but on an everyday basis you won't actually be any happier for it, according to Daniel Kahneman and Angus Deaton from Princeton University, who authored the study in the Proceedings of the National Academy of Sciences,
Previous studies have found the relationship between wealth and well-being to be fairly weak
Two types of happiness
Kahneman and Deaton, however, made a subtle but important distinction between two types of well-being: life evaluation, which is a person's thoughts about their life over a long period, and emotional well-being, which is a measure of their daily emotions, such as joy, affection, anger and anxiety... read more(source: Cosmos: The science of everything)