For sure, "live like it's your last day" is a very different thing, and not good advice. You should take your chance at making a memory when it comes (within reason), but you should also go to work (preferably at a job you can at least tolerate).

There's things that don't fall in either category that you have to ration, though. Slot machines seem like a pretty uncontroversial example. Gaming or streaming can be worthwhile, YMMV, but few would argue every hour done has been worth it. Doomscrolling is a little bit of a self-own to put on Lemmy, but the same for that.

Basically, it seems like old us would want us to use time, not waste it.