Thanks. That's important context because how does he logically expect to purchase a home if he basically breaks even every month?

When you have the conversation, just be honest and direct. Tell him you're concerned that he's not considering the future at all, and ask him how he expects to be able to achieve future goals if he continues to spend all of his money. Have you two discussed a timeline for achieving these things?

You're right in that it's his money and you can't control how he uses it. But his decisions impact you from a relationship perspective. If he's happy to live as is forever, that's his choice. But you'd need to decide if you're good with that. Good luck.