Compare what you earn with what you spend.  If you earn more than you spend, you are building savings, worrying less, and have a cushion against risks.

If you're spending more than you earn you're building debt, on which you are paying interest, meaning that you will build debt faster and faster.

Eventually you will be forced to lower your spending and start paying that debt down.  When that happens your lifestyle will be reduced for years... or you could limit your lifestyle now, and get all the benefits of saving, now and for the rest of your life.