It really depends on your financial situation, and your goals! When I was in University, I was determined not to take on a student loan, and had to pay for my own university fees myself. So I took it upon myself as a challenge of sorts to take side jobs to earn income to pay off my school fees, as well as cover my own personal expenses. Needless to say, I saved as much as I can in that situation. It also thought me the lesson of thrift, because candidly when you are working hard to earn your own keep, you are not as likely to spend it as frivolously as compared to if the money was given to you. That said, you can say that I pretty much did not have 'a life', because I pretty much was working at night and also an internship with flexible hours while studying full time. For the most part I dont regret it though, because the hardships then instilled in me values that make up who I am today, and I had goals then that I wanted to achieve! So in essence, define your goals, then you would know how to save/spend accordingly.