Living in the moment can be a positive force in your life if it causes you to slow down and savor the time that you have. Time that you have with your family. Time to unwind and relax. Time to just enjoy life in general.
Too often, though, people make extremely poor choices when living in the moment. They allow a fleeting desire to capture their attention. They dwell on that desire, savoring it all in the name of "living in the moment." The desire turns into bad decision making. Money is wasted. Debt is incurred. People are scarred. Families are destroyed.
Thoughts will lead to feelings, feelings will lead to decisions, and decisions will lead to consequences. Those who would live in the moment, would do well to think outside the moment, and project the future consequences upon any decision made in the moment.
Living in the moment must be tempered by truth. God's Word must be the absolute truth in the life of a believer. Every decision made in the moment must be filtered through the Word.
...we take captive every thought to make it obedient to Christ. (2 Corinthians 10:5b)