You get what you put into life they say. Also they say life isn't fair. So this begs the question how much money do we really need to be happy. Happy is a state of mind, more then money can provide. However if our needs aren't being met with proper living conditions our happiness indeed can be effected. The sweet spot would be around double to triple the median average income I've heard. Budgeting can certainly improve that ratio getting it closer to median average.
The Word of God says if you have two of something, and especially if you're not using the second item, to share it.
He answereth and saith unto them, He that hath two coats, let him impart to him that hath none; and he that hath meat, let him do likewise. Luke 3:11