You can make the choice--either live an extravagent lifestyle and remain busy, or live modestly for a decade or less and then do whatever the fuck you want 24 hours a day.
I don't believe in any type of extreme frugality, though I do plan on increasing my spending to the 100k/year range by retirement at 35. I'm saving more now because each additional dollar saved now means a lot more than money saved later, plus since I work, I honestly just don't have time to enjoy large expenditures right now, but I will in retirement.
I also enjoy fishing, which really only has startup costs for a rod/reel combo and some accessories (or a found stick and a hook on a line). After that, I can find bait in the garden, to my wife's dismay.
Anyway, the point is fun is really what you make of it. As they say, some of the best things in life are free.
Hrm?
Going without a fancy car and electronics isn't the same thing as "doing whatever the fuck I want."
For me, I consider myself frugal in a sense. I don't have hardly any material wants and I try hard not to buy much of anything. I don't want a fancy car, I went for a cheap efficient one. I basically don't have any wish to keep buying "stuff." I don't care what anyone thinks of me because I don't have good "stuff." I drove a beat up car FOREVER even when everyone made fun of me for it.
What I do is I spend my money on fun. Taking weekend trips at least once a month for example as something that costs money or going out with my friends. I'm not frugal in that sense, but it is what I choose to spend my money on. I try to do things cheap as possible. I have plenty of money and way more than I need even with these expenditures because I don't acquire "stuff" or want or need a big house for all my "stuff."
In all honesty from what I noticed just from the people I know that the "I'm so busy" people are the same people who are running on the hedonistic treadmill faster and faster.