Do you factor in how others perceive the chance of death?

I never really thought how others perceive death and how it changes their spending behavior. Personally, I have been continuing my monthly DCA, but have slowed my spending when dining out and on other things. Yet, I've noticed my friends have increased their spending on almost everything. When I asked them about it, they summed up their reasoning to “living in the moment.” They were very fearful of the war, climate change, and gun violence that has been happening. For reference, all of us are in our 30s with kids. So, i am wondering if you factor this in when you invest and do you believe this plays a bigger part in the economy?