Personally with over $3,000 a month going into diversified mutual funds, RRSP's, and on(no stocks yet but maybe later in life) I choose to save when I'm young so that my it's worth more when I get older. I tend to spend alot however I do make quite a bit as well. Between buying bottles of wine, airsoft, volleyball, soccer, and other hobbies I choose carefully what I spend my money on and when but still live for today but remembering I still got at least another 50 left.
The market has and will always go up and down, so never worry.
FYI, the new RRSP plan that isn't being taxed is wicked.