Well, I didn't say, "TO THE EXTREME", nor did I even say "live every day like its your last".
However, what I'm left wondering is why on Earth you equate "live every day like its your last" (keep in mind, all I said was, carefully evaluate how you want to live your remaining days) as spending beyond your means or even spending beyond what you imagine to be an unattainable sum of money.
Why also would you need a timer to tell you how much time you have left? Yes, plans are great, but would you really be happy if you knew for certain and just sat and watched the plan unfold day after day? Maybe I just much prefer the chaotic unknowingness that is day to day life. Plans seldom account for the happenstance that is opportunity.