Smart.
Whats smarter is to not give a shit what car you drive and pick up a mid 00's toyota or honda sedan for 5k and have cheap insurance payments and insane gas milage.
If you're trying to save money, the last thing you want is a 5.0l V8 Mustang. Especially one thats 30 years old and has probably been driven like shit by some idiot high school kid at one more points in it's lifetime.
If you're trying to save money, drop the flash cars and possessions. If you do buy something nice for yourself, think of it as an investment and make sure you A get a good deal on it, B buy used, and C buy something you can resell if/when financial hardship strikes. You might not make your money back, but if you need to sell if you can price it to sell for cash and you'll have something rather than nothing if for example you'd bought something cheap and cheerful.
Oh and find a cheap ass place to live. Nothing wrong with living with other people when you're in your 20s. I was paying 350 bucks a month in rent for a long time by living with other people who weren't friends nor family aka room mates.