critique my LA itinerary

Hi, I'm going to be in LA from Wed afternoon to Sunday afternoon for
the first time, and am looking at what to do/what area to stay in:

Wed: hang out: unsure where
Thurs: Rodeo Drive/Farmer's Mkt, Hollywood
Fri: Santa Monica
Sat: ?Universal or outlet shopping, which is better...
Sun am: ?

Anyone have any ideas on what else I should be doing, or if I should
change my itinerary around, and should I be moving from hotel to hotel
as I travel to different places. Staying in West Hollywood is really
expensive, and we could probably only afford 2 days there, so I was
thinking that maybe we should stay there 2 days and then move outwards
to cheaper hotels.. or we actually could stay near Culver City/LAX the
whole time but have to drive around lots?

We're a couple in our 20s, visiting LA for the 1st time with a car.
We're not into museums, but like to hang out and have fun, and shop.

Thanks