Can Money Buy Happiness?

According to Money Magazine it can as long as you change the way you shop and the way you think. Instead of buying fancy luxury cars, new boats, expensive wines and foods, and racking up charges on your credit cards; Money suggests that you invest in things that will make you happy. Mainly family, friends, and experiences. Have family and friends over for a BBQ, learn something new that will be a challenge to you, such as a musical instrument or golf, trips or vacations can create lasting memories and happiness, pets -though destructive and expensive- can not only bring you happiness, but can ease stress and lower your blood pressure. On the other hand impulse buys, expensive toys, new tech gadgets, only give you a short amount of pleasure, and then you are on to the next best thing.

I believe that frugality also can bring you happiness. No matter how much money you make if you live within your means and are frugal, I believe you are happier. Though I am just starting to get out of credit card debt and investing in my family's future, I feel a sense of relief that I am working towards a goal of financial freedom. This makes me very happy. Do I believe that money can make you happy? I believe that being finacially free can. What do you think?