To 'boy life' is to generally be a boy about something, usually a specific action that fails miserably. To understand this term, you must first understand what 'being a boy' is: to 'be a boy' is not only to act in an immature manner, but to be generally unsuccessful at something or to to do something in such a way that it seems you have little experience of it. If you are 'boying life' then you are in the process of being a boy. The term implies that you have a dysfunctional method that you choose to live your life by, and is the cause of your failures. It is a fairly serious cuss or gun but is often recieved as a humerous statement.
Hatchin: Oi catch up you nutcase
Nick: Nah you wait up for me, i grazed my knee remember...
Hatchin: Shuuuup you f****** pussy'ole and stop boying life