I would like to share my thoughts concerning this topic. I'm sure that it's important to keep the balance between saving up and spending money. From the one hand, you need money for your goals: studying, travelling, buying a property or a car and so on. Depending on your income you have to make a plan how you will save up money for these things and just live at the same time. From the other hand, you don't know how long you will live (of course everyone thinks that their life will last long) and there is no need to save money. I think we should have reacheable (in context of money) goals. And "reacheable" is main word here. There is meaningless to chase the desire to spend a few million dollars in casino because you won't. Of course many people would argue with me here like "you shouldn't just give up! All goals are feasible and depend on only from your willpower!" But let's be honest, you cannot jump over your head. Of course you would try but it seems that you will only save up money all the time and never stop because of limited lifespan. Eventually you will end up with nothing. You have never bought whatever you want, traveled somewhere. You have been collecting money for all your life and have never been spending it. Of course it's not rational to sieze the day too. I want to finish my thinking with story from my childhood. I liked to play computer games, kind of shooters. And every time when I got a super powerful gun I saved it for better times, you know, when a main boss would come into play. And the most of cases I had not chances to use it because game was over suddenly:)
This thing taught me not to forget not only to save up but also to spend too)