While watching Disney’s Encanto on Christmas Eve when it came out on Disney+, I heard a couple of characters refer to one of their loved ones as “mi vida,” my life, which I think is an adorable thing to say. Is that common in the Spanish-speaking world?
Yes, at least in Mexico it is pretty common.
Sometimes it is used without the “mi”.
For example, I might text my wife:
Do you want me to stop by the store and get some beer, vida?