I'm second year uni and am only 19. I'm putting away about grand a month towards a car, still undecided on what though. I have just under 2 years before I'm off my P's, so till then, no own car and my mum's camry is where its at. I have enough saved to buy something decent now, but I don't see the point in having to pay ultra high insurance. By 21, I'll have enough to buy a car (S15? R32 gts4/GTR?) outright and have a decent amount to keep investing for a house/apartment in a couple of years after that.
I've worked for everything I have and I'm lucky I have a good part time job. Still spend around $150 a week on food, drinks, clubs, whatever else.
All my friends have NICE cars (306 xsi, 206 GTI, Audi A4 3L, new SLK) bought by their mummy's and daddy's. My parents would never buy me a car, not even mentioning a house.
To sum up: work hard and make some good investments. Try not to get into debt while young or rely on others.