The adjective dissolute means unrestrained. If you're a dissolute person, you indulge in gambling, drugs, and drinking and don't care if others disapprove.
If your mother tells you you're dissolute, she's not trying to be kind. Some kinds of unrestrained behavior are good, like if you're unrestrained by fear, and do something very brave. But someone who is dissolute not only goes against the grain of normal behavior, but is wasteful and offensive — over the limit. If you drop out of school, party all the time, and waste your life, you've chosen a dissolute lifestyle.