too much of a good thing

A friend of mine from work has the habit of reminding me that I work too much. While he's always been right, I've always had the excuse that I had to get through the debt I stacked up on my way in while putting together my apartment.
On the 28th of this month, his point will become a lot more trenchant, when my disposable income after bills goes up 4 fold.

So what do I do? Actually cut back on working? Or create new needs/wants to take up the slack?