"You only live once" saying...where do you draw the line?

For example, I try to save most of the small amount of money I make. I feel bad about spending a lot on vacations, a new hunting rifle, truck, etc. I am also trying to save for a nice house, better retirement down the road.

But if I were to die soon, I would regret not going on a few more vacations, going on more hunting trips, exploring the country/world, spending more time with family, getting mad and sweating the small stuff.

Time is extremely valuable in life. However, at the same time, we all like to save money for times in the future.

So, if the money is there, would you go on more vacations or try to save more?

Buy the 950 dollar hunting rifle or keep money in the bank?
Work hundreds of hours of overtime every year or work 49 hours per week and have lots of time to spend with loved ones?

What is a good amount of money to always have in bank?