I try to stay in the realm of both worlds.
I've got a 2013 Honda Civic EX-L that I use for my daily driver. Auto, leather, heated seats (for the Midwest winters), Bluetooth audio, etc. 40+ MPG at highway speeds (55-65 MPH) and about 35-40 MPG at interstate speeds (70+ MPH).
I've also got a 1984 Chevy Camaro Z-28 for the summer months. 305CI V8, 5-speed manual, fully decked out motor (all chrome), race seats, 4-point harnesses. Edelbrock intake and 4 barrel carb, Cowl hood, etc. It's been a lot of fun throwing money at it over the years. The car itself was cheap, so it's ben fun putting new parts and accessories in it. My dad and I have done that in our free time since I was 15 (I'm now 23).