Really depends on how much you value things easily accessible for money. Like one of those happy go lucky rich backpackers or something. It's not like you'll be happier with debt and a loan.
Usually if you have enough you are not thinking too much, everything could happen if you want, but yeah, we should consider debt free life, so we wont' be worrying and could result to something else instead of happiness.
A lot of things you can do when you have money, you can hang out at night or choose to go anywhere you want. With that, I can say that money can really buy happiness.