Yolo - A term that means 'You Only Live Once' and can be used by anyone, but is typically used by the young, the stupid and the plain ignorant. It is often used to give justification for these people to do whatever they want whether that's wasting money on unnecessary things, jumping into a rocky lake or simply seeing how close they can take a knife to the eye. Which tends to end in disaster but hey, YOLO!
Hey i'm going to jump off this cliff and see if i'm okay, see you in a minute. YOLO!