In fact, spending money can  indeed buy happiness as long as the purchases are in tune with the person's traits. In my own case, I derive immense pleasure and happiness when I read a Book of my favorite author. But in these days books are not available for a cheap price. I buy books which are available at a cost within my reach.  For other expensive Books, which I cannot afford ,I became member in a Library. The yearly fees is mere Rs. 150. Additionally, I exchange Books with like minded Book lovers

Money and happiness go together. A man without money will be unhappier than a man with money.

There is no life without money since it is needed for everything. One can spend on other things only after the basic essentials are met with , so the need is personal and depends on the individuals themselves. Some like spending money on travel, books or investing for future, religious emblems... Anything that makes people happy is worth spending on!

Books and reading my favorite authors. Which is why, I spend more on Books. I'm leading a happy life now ,all my family needs are attended . I fulfilled all my family needs. Right now, my house is filled with all my relatives. Seeing such family union, I derive happiness. I live on my PF savings.

we cannot deny the fact that in today world money is equal to life. this comparison says everything MONEY = LIFE 

That's a wrong notion. Money can buy anything except happiness.

for some it can be a wrong notion but i think money is everything 

Opinions vary.You are entitled for one. Go on. During communal Riots long ago, when I was a Bachelor and  working in Rourkela Steer plant , the entire Market was closed. I had lot of money. But food was not available. I did not eat money and I found all the money in my pocket was useless.

Money is nothing but everything. 

The above sentence is confusing...... yes money is also confusing 

For a person with no money, money is everything. One can become philosophical only when there is enough money to take care of one's basic needs. All said and done , money is very essential in life !