First, I want to assure you that there is no shame in sitting out of the “fun” every now and then. Driving fast and braking hard can be incredibly dangerous and can even get you into legal trouble. However, as long as you keep up with your car’s scheduled maintenance, the occasional joyride in a safe, isolated area should not permanently damage your car.
In addition to staying on top of scheduled maintenance, make sure to warm up your car and limit your driving times when you’re pushing the limits for a little fun.