You only live once and that is why you need to make sure that you live it to the fullest. But does living life to the fullest mean making mistakes unapologetically and risking your life and wellbeing? The answer to that may immensely vary with different people but the consensus is always to take a calculated risk. How? You find balance. Go ahead, and have fun. But at the same time, do not have fun to the extent where you regret it later on. Because consequences will last much longer than the fun will.
To illustrate this idea into an example would include going out clubbing with strangers, but at the same time, informing a close friend where you are. Or go solo traveling but make sure you keep your passport and other important documents, along with an extra credit card safely with you. If you are living in hostels, check in beforehand how safe they are. Because at the end of the day, you are responsible for your own safety. As an adult, you are allowed to live your life on your devices. However, this is not all fun and games. There is responsibility involved here.
For instance, if you do not take care of your finances as you continue to have all the fun in the world, it will cost you in the future. You will not have enough financial security for rainy days or to make big investments like buying a house and plenty of other decisions that come with being an adult. All this does not mean that you do not live your life, have fun and make memories. It means planning out your finances beforehand- how much can you spend on traveling and having fun and general? This will help you create financial boundaries for yourself, and your future self will thank you!