Money does not buy you happiness, but lack of money certainly buys you misery – Daniel Kahneman

I do not agree with generalizing this quote, but it is indeed true in many cases.

Money does not buy you happiness, but lack of money certainly buys you misery

– Daniel Kahneman

I will not go through explaining this quote, but let’s take some example cases:

• Many people are happy even without money, and that is true mostly in rural and mountainous areas.
• Lack of money in a heavily social country (like many countries in Europe) does not really lead to misery.

It is all about what you mean by money and lack of it. Obviously being broke is not a good thing, but i won’t go to call it misery. All depends on the personality of the individual. A grumpy individual would be grumpy and miserable with all the riches of the world, and a cheerful individual would still be happy if broke.
As for the rest of us, lack of money does bring misery due to no being able to pay bills, having to work long hours, etc …