"moral holiday"

It doesn't mean running riot, lying, cheating, stealing, & philandering without compunction. (See my discussion in William James's "Springs of Delight," 70f.)

It does mean relaxing, enjoying the moment, stringing enjoyable moments together when you can, "chilling" (see my "License to Chill" in Jimmy Buffett and Philosophy).

Sometimes it means spending a lovely summer afternoon in the park.

"The universe is a system of which the individual members may relax their anxieties occasionally, in which the don’t-care mood is also right for men, and moral holidays in order... I fully believe in the legitimacy of taking moral holidays." William James