This. It is all about the right balance. Here is a good analogy that makes sense to me.
Going full-on penny pinching in the first half of your life, hoping to enjoy it later, is going to rob you of a ton of experiences that you won’t be able to experience later in life.
On the other end of this spectrum, throwing money around and living just for today, without long-term plans and savings, will rob you of a ton of experiences in the second half of your life. Mind you, very different experiences than the ones you were missing out on in the penny-pinching scenario.
So it all boils down to a solution that sounds really simple, which is what makes it really difficult to act on and execute. You just gotta balance those two approaches in such a way, that your experiences are maximized across the board.
But saying that isn’t really solving the problem for anyone, as that’s akin to the famous joke tutorial on how to draw an owl. Saying “just gotta balance is right” is like saying “ Step 1: draw 3 circles. Step 2: draw the rest of the owl.”
So in the end, there is no real concrete solution. The best we can get is a solid guideline of “balance things in order to maximize your overall experiences”, but the actual answer to how to properly balance things is different for every individual and is left for self-discovery.