Money is a current medium of exchange that is used in most people, if not everyone's day to day life.
Money provides people with a sense of autonomy and freedom to live the life they want to. As the desires that people have will continuously grow so to have money to fulfil these desires would surely satisfy if not make the people a lot happier than they were.
National living crisis
This can be contrasted by the national living crisis in the United Kingdom which has led to the more money you earn the more the money is gonna get taxed, and it shall never see the light of day in your bank account. Unfortunately, this is due to the political parties within the government, overpowering the population of people as the government have already got more than enough money to satisfy and make them happy. However, they take the selfish approach and keep their millions of pounds and expect the rest of the population to be happy with the rise in tax on their pay checks due to the fact there's not enough money circulating to spend on the key areas that need funding such as education and the NHS.
Taxation
One of the many reasons for recessions to happen causing an increase on tax is because of the limited amount of cashflows around the country, as the more cash flowing the better the country will be as they rely on the businesses / companies to have large profits so that when its taxed the government get enough if not more than enough money to pay for the bills such as the education of children. However, if the government say weren't to have enough money from the tax they receive from businesses then the tax rates would increase penalising the population and many other sectors.
Through Covid- 19 the limit of access people had to shops and stores meant that there was a slow or limited cash flow, flowing through the country meaning the government didn't have enough money to afford the bills, so to fix this they would increase the tax level and banks would lower interests rates. Meaning that peoples money will be less and mean less which wouldn't make people happy at all.
Income
Money is such a big thing in people'e lives as they rely on that to live and survive, so if people were to have a surplus of money that wasn't used for bills, taxes or any other costly items such as maintenance repairs. Then people would be more likely to feel happier as they'll feel more comfortable with excess money after the deductions of taxes and bills etc. they would feel more happier because they'd know that they had enough money to live and ensure that they were well looked after which is what any person would want.
Mental health
Money also takes a toll on people's mental health as if you don't have the money to pay the bills or feed yourself then you'll be worrying about how you can survive or live with the limited amount of money you have. If this was to happen for a long period of time it cause cause traumas on people's lives or even push them into crime to create that extra money to live off. Money troubles is a big thing within the low-income sectors as they are constantly worrying about the cost of living rising meaning they will have to find a different place to live which is cheaper for them to afford or they will have to try and get a better paying job which can be difficult especially if they don't have the skills or because, the skills for their kind of job have been taken over by automation.
Excess of money
Millionaires could contrast the feeling of happiness,, as they have too much money to handle, and so after they've bought everything the want or need and theirs not aspiration for something then the money to them feels worthless as they'll already have what they want. So this excess of money might become a burden on them which could make them unhappy as they don't know what to do with it. However, them having an excess of money could end up them being happier as they would be open to giving money to charities to help others in need which the goodwill of them doing this kind of thing could boost their happiness as they would have done a great thing to help societies struggling.