Yup. I knew a lot of wealthy people when I was married and lived in La Jolla, They were not any happier for it. Money only helps up to the point that it keeps the wolf from the door - I think in a study it showed that happiness doesn't increase with money above a family income of $75,000.
Plus -the other thing I learned living in that neighborhood is that just because people have the trappings of wealth, doesn't necessarily mean they're not drowning in debt. People can overspend their incomes even when those incomes are quite large.
Happiness comes from having CONTROL over your spending and finances (resourceful people can live better on less). It also comes from having good relationships, from job satisfaction, and from mastery (like art, music, hobbies and skills of various kinds).
My ex makes considerably more than I do (even now, when he's restricted to just his pension) yet I am the one who still has been able to help our son financially while he claims he can't. This is because I live in a less expensive (but actually nicer) house in a less pricey neighborhood, I take less expensive vacations (although I have still traveled), I don't spend as much on meals out and the like. If needed, I could save even more in the future (my grocery bill is higher than what I can do when I need to, I could buy things second-hand that I currently purchase new, etc.).
Helping your kids learn how to be resourceful and how to have fun without having to spend money are invaluable life lessons.
