If you're accepted, what are your plans for the money invested? I think I'm a little confused. THE YC FAQ says we can spend it any way we see fit. However, the only thing I expect to spend money on are living expenses while in Mass (rent, food, bills).
If you're a founder, please share a little bit about your experience. Did you find it difficult to live on the investment? Did you use personal savings? Were family and friends feeding you money? How did you use the investment?
http://www.getdropbox.com/u/86/appjet-summer07-expenses.gif
So that's how we (2 of us) spent most of our $15k summer funds.