I make a folder for my saves location, and selected the folder where I want my project to be stored in, premiere just makes the project name save location/(project name) instead of saving on the location. Don't know why this happened.
I can't tell from your image what's going on. I will just mention that Premiere doesn't save to root folders. You need to have a folder on the drive, then a folder inside that, which Premiere will then use.