PhD is a huge decision, and you absolutely need a huge reason other than funding. It’s like being handed a fishing rod and being asked to get back with a fish nobody has ever seen before. Such is the uncertainty inherent in a PhD. The purpose of a PhD is to receive formal training in research, the goal of a PhD is to actually go through this process and produce a novel finding at the end. There is most definitely going to be a time when this need for novelty makes you desperate. It is then that you need a magical combination of passion and love for your field, and faith in the process to get you through. At times, even your advisor may not be able to get you through a specific research progress slump. This is where your grit and drive get tested to the best of your ability. A drive you’re likely to possess only if you are entering a PhD with a strong reason to begin with.

I would encourage you to first assess what the final destination in your head is. Do you want to go into academia and pursue research full time? Do you want to go into an industry that demands a PhD and high technical acumen? Do you want to pursue research within industry in their research wings? Be sure that you only pursue a PhD if your desired goal absolutely necessitates it. If you have a specific profession or dream job in mind, go meet people who do that and engage with them about their experiences and learn if you can imagine yourself having the experiences they describe. Do you actually want what they get out of their experience or not? If you still want to be like them, then investigate if a PhD is absolutely necessary to get there.