Is it okay to live on your parents money?

I plan to prepare for upsc after my ug and masters, currently a second year student at a fairly good college. I have seen my batchmates sitting for internships and cracking it and they also plan to sit fr placements. Good companies come here so they'll get placed. I am always feeling like they'll have a stable living by the time i complete my masters and give my first attempt. Should I try changing my route? At the end I do want to give upsc, but should I go for placements instead of masters? Or is it just peer pressure? My parents do not say or show any kind of reluctance to give me money for my studies but it gets annoying when they do not allow me to hangout and have fun, they're extremely strict. So my chances of being independent will also increase if I go fro placements. What do you all say?