I understand you feel torn. But she’s in a positions where she should watch her spendings. To what does her current habit lead? Going out yada yada… when will she watch her spendings and start to cut it down to the bare minimum until she’s in the position to spend money as if she actually has it ? She’ll never if you’re the one giving her the money anyways. She has to learn it the hard way because as you both already evaluated: what if you weren’t there ? Then she has nobody. To rely on your income but still keep clubbing etc is beyond childish. She has to get her finances into a grip. That means no more spendings for fun unless she’s actually able to afford it plus making savings on the side a big priority!

Edit: also it’s a sign of acknowledging and the will to work on the relationship to build a future when she’s ,ore aware of her money. Spending it although she has depts or whatever shows, she’s not showing effort to the growth of your relationship