Engaging in recreational activities that may result in a sense of accomplishment. Reading a book, playing a sport, or going for a hike are examples.
Opposite this is unproductive slacking, which leaves you feeling horrible and unsatisfied afterward. Think sitting in your underwear all day while you watch Full House reruns and eat Cheetos.
Guy: "So did you waste away your weekend away like usual?"
Girl: "No way! I got tons done! Mind you, it was all productive slacking. I read a novel, went to an art gallery opening, and spent three hours on Skype with my best friend from college."