It suggests that life is short and finite, so it's important to live fully, be adventurous, and not let opportunities pass by. Some interpret "You only live once" as a call to act impulsively or indulge in pleasures without considering long-term consequences, while others see it as a reminder to live with purpose, mindfulness, and intention. The phrase invites reflection on how we prioritize our time, decisions, and relationships, knowing that we only have one life to live.