In Sweden, approximately a quarter of upper secondary school students leave school early or do not complete their studies with full grades. Structured leisure time activities have been associated with improved health, enhanced school performance, and future college attendance. Therefore, the aim of this study was to gain an understanding of how adolescents perceive the prerequisites for and the importance of meaningful leisure time. Qualitative interviews and focus groups with adolescents aged 16–19 were conducted and analyzed using content analysis. The results highlighted the importance of autonomy in leisure time, equal opportunities, and social relationships. Adolescents expressed that an optimal balance between leisure time and school can result in a circle of positivity, leading to better school performance, skills development, and overall well-being.