It's important to set limits and then actually stick to them. Once you overspend, it's like gaining weight; easy to gain the weight but HARD to lose or get back to where you were prior.
Once your money is spent and you're left with nada; you're checking the couch cushion for change or headed to the Parentals to mooch! Don't feel so good huh?
Another BIG thing is investing in your retirement fund! That is how I got the down payment for my 1st house!
Have fun but live within your means.