For me, the key to balancing life, work and art has been timing myself doing productive tasks. This may not work for everyone, but in this guide, I explain the importance of giving equal weight to thing kind of work that you do. As a creative professional, it is critical to consider some of the work we do may not translate into cash (at least right away) but it does not make it less valuable.
People around the world may not always understand the value of others' work, but we all understand the importance of time. Everything we choose to spend our time doing matters. Not to say vegging out is out of the schedule, but if you start tracking your relaxation time, friend/family time, creative time and money-making time, you will be in a better position to make decisions on how best to prioritize.
This is also a great way to try and establish an hourly rate if you are a freelancer. In order to enjoy x amount of time creating, relaxing and vacationing, I should charge x an hour and work x amount of hours each week - you get the point!