Investing vs saving as a PhD student

Investing vs saving as a PhD student I'll be starting a PhD program this fall, and would appreciate advice on how to manage the savings that I have. For the last few years, I've been working and have saved up around 35k, which is currently sitting in a HYSA. I'm thinking of drawing on my savings to "enjoy life" during my PhD, using it for summer/weekend/conference travel, small lux...

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