Is money the most significant factor in determining a person's quality of life?

From my opinion there are two of a person’s quality of life: the physical quality and psychological quality. And I believe the physical quality always comes before the psychological quality. While some people contend that many other important factors outweigh money in determining the quality of life, I insist that money is the most important factor because it fulfills our basic/physical needs. With money, one may not be happy. But without money, one will not be happy for sure because of the lack of basic needs. The psychological quality of life is largely built on the foundation of the physical quality of life, which is achieved by money. My opinion largely comes from my approval of Maslow’s theory of the hierarchy of needs, which describes different stages of growth in human. His theory is often portrayed in the shape of the pyramid with the largest, most fundamental levels of needs at the bottom and the need for self-actualization at the top. The pyramid places physiological needs at the bottom, followed by Safety, Love/belonging, Esteem and Self-actualization. Needless to say, the ultimate function of money is to fulfill the basic and physical needs for humans. And Maslow’s theory suggests that the most basic level of needs must be met before the individual will strongly desire higher level needs. Using an analogy to illustrate my point: Money is like the foundation and the quality of life is like the main building while other important qualities such as esteem/love are like the numerous decorations of the building. However, no matter how pretty the decorations are, without a solid foundation, the building will always collapse in the end. And the numerous charity organizations nowadays also demonstrate how indispensable money plays in determining the quality of life.