Twice I have changed jobs and taken a pay cut. Once was to take a job that was almost literally in my backyard. I walked to work, my kids walked to my office after school, I was VERY available to my children and to the schools. It was a lovely arrangement and the money I saved by 1) not commuting (60 + minutes/day) and 2) not paying afterschool supervision for my children was noticeable in the change. Not quite a wash but the piece of mind was priceless. The pay cut was more than $10k/year (worth it). I went from acute care/hospital work to community health.
The second time was to work for a preferred agency. I gave up a good paying job with an abusive employer to take a lower paying job working with a top notch employer. I am much happier and much healthier now. The drop in pay was a couple bucks/hr (worth it). Both of these jobs were in hospice.
I am a cancer survivor, mother of 2, wife to a man who has had a significant medical event that could have been life limiting...money is not the most important thing in my life so these type of changes are not too difficult for me.