One can not define happiness in a single perspective. It depends on a lot of factors for example:
The personality type
Environment
Relationships
Family and friends
Finances
I think it depends mostly on what kind of a person you are. Some people are always happy, trying to find joy in the smallest possible things in bleakest or worst possible scenario. So its the way of looking at things that matters.
But at the same time it is hard to neglect money factor. If you can not make ends meet, can not afford good education or health and you suffer it seems hard to be always happy in that case.
As for relationships, family and friends, if you are lucky that means good support and understanding and care. One can find joy in life, does not matter if u have a lot or not.
So material things only matter if one is , i would say weak person, does not have the strength of charactor. If one is strong, he or she can not only find joy but also knows not to vent the frustrations on others.( which comes usually with the package).