It really depends on your background. I grew up poor and while I never quite was at his level of self-immolation, I also would book (on the company dime at least!) the cheapest possible options at my own personal expense. Staying in a slightly more expensive hotel to be closer and more convenient simply was not an option that ever crossed my mind due to my upbringing and relationship with money.
Luckily I had great people I worked with who helped show me what was acceptable and not rather early. I still find myself doing this now even at an executive level 25 years into my career. I suspect I will be battling this mindset the rest of my life.
It’s self limiting and puts you at a significant disadvantage off then at compared to your peers in many early career situations - but the mindset does come in handy once in a while in the course of running a business.
When you get your first “real” job these things are not obvious because below a certain level you are expected to show up on time and at location at your own personal expense.