If your life is built on the search for reckless, sensual pleasure with no thought of possible consequences, then you are living a life of profligacy, and probably spending a lot of money to get it. How wasteful!
The idea of a loose, dissipated life, is seen in the noun profligacy, which comes from the Latin prōflīgātus, meaning "corrupt or dissolute." It's been said Americans live in a state of profligacy with regard to petroleum use, wasting it in the manufacture of everything from water bottles to nail polish to traffic cones. Someday this profligacy will catch up to us, however. With rising gasoline prices, perhaps it already has!