<prompt> Human: Hi reddit,I figured this will be a great place for advice and feedback. I am a 25 year old who recently finished my masters. Previously, I worked for a large company where I saved my earnings in a traditional savings account I was saving for my masters. I also took part in Roth 401K and company stocks. Since the company stocks are always purchased 15 below the selling price, in theory I should be making a small profit. I also opened a life insurance plan with Mass Mutual, but I paused upon commencing my studies. Leaving the masters, I have around 25,000 USD and roughly 1000. I doubt I will convert the pounds into USD, and just leave it there for European travels. I am considering doing a PhD which will be quite expensive due to funding restrictions 125,000 USD for 4 years. My goal is to apply for the PhD programmes this year for the 2016 intake. The programmes I am targeting have living stipends. I will also be returning to my company with a new role and salary in the meantime. What is the communitys opinion to maximise the savings in a short period of time 12 months? I do plan to restart the Roth 401K and stocks again. Are there certain short term accounts I should look into like CDs? This is quite a confusing matter for me even though I have been going through this forum and guides. Thank you for your help!Edit: It seems the general advice is to not pursue a PhD if not fully funded. But since I am quite set on a PhD in the UK and will most likely be paying for most of the tuition, what are the best options as of now to pay for the programme? As one person recommended, living frugally is the most important way to save. Are there any special savings accounts or schemes I can take advantage of? I do not think I will be pay for the programme in one lump sum, it will most likely be distributed twice a year for 34 years.  <response>: Isnt the rule of thumb that, if neither your employer nor university will pay for your PHD, you shouldnt get a PhD? 