There’s a middle ground which is to spend intentionally so that you’re not wasting money. You can set aside a percentage for purely fun stuff. But a lot of us waste money — we spend on stuff we don’t need, things with diminishing marginal utility. How many dinners out a month are really necessary to improve happiness — and at what point does it cease to move the needle? That’s subjective, and will vary from person to person.

It’s about being intentional.