I think if you want to do some experiment, do it with your squier.
If you want to keep it:
- you can try to tune the squier into different tuning, experiment with it
- you should purchase 2 set of guitar strings right, this doesn't matters.
- you can make your squier as your 'backup-guitar' and your fender as main guitar
It depends to you.
But, if I were you, I will keep both guitar, and try to switch guitar every I play a song. So, if the other one make problem, well, that's not problem for me, because I used to both guitar.