Kings Student Money Mentors

A Typical Week of Spending in London

London has to be one of the most vibrant, lively and exciting cities to live in as a student. But it’s also the most expensive city in the UK… so, just how expensive is it really? In this blog, I’m going to explore how expensive living in London is by taking you through a typical week of my spending as a fourth-year KCL medical student. I’d like to preface that everyone’s individual spending will be different depending on a number of factors and your own spending will fluctuate week to week. However, this blog post should give you an idea of what costs to prepare for and how you can think about cutting down on certain expenses.

Accommodation: £225p/w

Utility bills: £15p/w

By far, my greatest cost (and this will be the same for almost every student) was rent. The price shown above is how much I paid for a room in a three-bedroom flat in central London. However, many students will choose to live in student accommodation, especially in their first year, as this is a good way to get to know other students at King’s and make friends. Another benefit is that the weekly rent price includes all utility bills. Make sure to look into the KAAS scheme (King’s Affordable Accommodation Scheme), which offers accommodation at a reduced rate for students from lower income backgrounds if they meet certain eligibility criteria. The weekly rent for King’s accommodation (not including KAAS rates) ranges from £178 to £370.

Grocery shop £30

One thing I started to do (and would recommend to other students) was to pick a specific day of the week for grocery shopping, and to create a shopping list before stepping out. This helped to prevent overspending as I was less tempted to pick up random things I wouldn’t need throughout the week or when shopping. I would usually visit Lidl with one of my flatmates at the weekend and spend around £30. On the weeks where I’d just returned from visiting home, I would spend much less on grocery shopping as I’d bring home-cooked food with me. To reduce the cost of your weekly shop, consider shopping at larger supermarket branches as items tend to be a bit cheaper here and also getting a Sainsbury’s Nectar card and/or Tesco Clubcard. It may also be worth looking into signing up to food hubs such as The Borough Food Cooperative. For each visit, members can pick up to 16 items for £4.50, which works out to be a really good deal!

Transport: £6

I live just a 10 minute walk from Guy’s Campus, where all my inductions were based this week. I used the tube once this week to go shopping in Covent Garden. Note that I normally spend more on public transport (£15 to £20 each week) as my hospital placements are a bit further away.

Social/eating out: £15

I try to bring a packed lunch with me most days but ended up getting one meal deal this week. I also went to Covent Garden with a friend and had dinner there.

Tea and coffee: £5

I’m not much of a tea or coffee drinker, but I got a bubble tea this week for £5. If you do enjoy these drinks, aside from making them yourself to save money, I’d recommend downloading the King’s Move app. This app tracks the number of steps you take each day and you automatically earn points as a result. Once you earn a specific number of points, you are entitled to a reward, such as a free hot drink from any King’s Food venue.

Monthly subscriptions/bills: £14

Disney Plus – £8
Spotify – £6 (student rate)

Total excluding rent: £74.50

Total including rent: £299.50

Just a reminder that spending and costs will be different for everyone and will differ week to week. E.g., I would spend a lot more on groceries if I was trying new recipes on some weeks or spend a lot more on social activities – especially during the start of the year. I myself am still learning to manage my own money and budget, but hopefully, this has given you some insight into what to expect.

So, there you have it – a typical week of spending from the perspective of a student living in London!

Tasniya Aktar and Aanchal Raina
King’s Student Money Mentors
Part of Money & Housing Advice

The King’s Student Money Mentors blog shares our students’ personal experiences and thoughts on money-related topics. Any reference, opinions or recommendations on a particular company/brand are only the views of the student(s) who wrote the blog post. King’s College London, the Money & Housing Advice service and the Money Mentor project do not share the views in the blogs nor endorse any of the companies mentioned. Readers should conduct their own research before using any companies mentioned in our blog posts.

A guide to transport around London

(Credit – “Airport Travel” by Negative Space/ CC0 1.0)

So, you’ve secured a place at King’s but you’re not sure how to navigate travelling around London. I remember feeling overwhelmed with all the different public transport options so you’re not alone! A lot of this comes down to personal preference but in this short post, I’m going to give a few tips on how to travel around London without spending too much.

Which mode of transport is best?

There isn’t a single correct answer to this question but of course, walking is the cheapest way to get around, with the added benefit of being good for your health and the environment. Cycling is another great alternative. Remember to download the King’s Move app which is free and tracks how many steps you take. You can earn points for simply being active and redeem these points for rewards such as a free hot drink or KCL merch.

How can I save money on travel?

If you live further from campus, walking and cycling may not be viable options. In this case, I’d recommend working out how many journeys you’ll make throughout the week. Generally, if you’re only using public transport a few days a week, then pay as you go will be your best bet. This can be done using any contactless card but I’d suggest getting an Oyster card and using this for your journeys instead. Oyster cards are effectively payment cards that can be used exclusively for travel, meaning that tracking your spending on public transport becomes easier.

In addition, I’d recommend purchasing a 16-25 Railcard, which gives you one third off train fares. The advantage of having both an Oyster card and a Railcard is that you can link these cards, which gives you a one third discount on off-peak pay as you go travel in London. This includes the tube, London Overground, Elizabeth Line, DLR and most national rail services.

Note that the cost of a standard Oyster card is currently £7 and a 16-25 Railcard costs £30. However, you’ll save money in the long run with both of them.

Should I get a Travelcard?

If you’re planning on using public transport most days of the week, it is usually cheaper to purchase a Travelcard than to use pay as you go. A Travelcard gives you unlimited travel at any time on the bus, Tube, Tram, DLR, London Overground, Elizabeth Line and National Rail services in London. There are different types of Travelcards available depending on which zone you’re travelling in. For example, a zone 1-2 Travelcard covers central London whereas a zone 1-6 Travelcard covers the entirety of London. In addition, there is the option to purchase a 7 Day, Monthly or Annual Travelcard. Annual Travelcards offer the best value for money, however if you won’t be in London for the whole year, then you may want to consider a monthly or weekly Travelcard. I would recommend checking the TFL website to compare the cost of the specific Travelcard you’re planning to get vs the total cost of paying as you go for the week.

Finally, some students who do decide to purchase a Travelcard will also purchase an 18+ Student Oyster card. The reason for this is that you get 30% off the price of adult-rate Travelcards (although there is a cost of £25 to purchase the Student Oyster card).

I know that this is a lot of information to digest but hopefully this gives you an insight into the factors to consider when thinking about how to get around London. You can check the TFL website for more information and don’t hesitate to contact us if you have any questions!

Aanchal Raina
King’s Student Money Mentor
Part of Money & Housing Advice

The King’s Student Money Mentors blog shares our students’ personal experiences and thoughts on money-related topics. Any reference, opinions or recommendations on a particular company/brand are only the views of the student(s) who wrote the blog post. King’s College London, the Money & Housing Advice service and the Money Mentor project do not share the views in the blogs nor endorse any of the companies mentioned. Readers should conduct their own research before using any companies mentioned in our blog posts.

Introducing the King’s Student Money Mentors 2024/25!

Do you have any questions about money management during your time at university? Would you like to speak to another student about your budgeting concerns? If so, the Money Mentors are here for you! We are current trained students at King’s with a particular interest in being money savvy, and we hope to support our fellow students with all sorts of money-related matters. If you’re unsure of how to create a realistic budget, would like to explore various ways of saving money, and keep yourself safe from scams throughout the year, our Student Money Mentors would always be happy to support you. We will introduce our Money Mentor team below, which consists of students from different backgrounds and courses.

Tasniya Aktar

Hi, I’m Tasniya and I’m a fourth-year medical student. Being a Money Mentor is great as it means I get to help students manage their money better, which then leads to them having a better student experience! I’m really looking forward to meeting new students in the upcoming year and creating online content through blogs and social media posts.

Aanchal Raina

Hi, I’m Aanchal and I’m a fourth-year medical student. I joined the team two years ago, and I’m really excited for the upcoming year, where I can meet new students and hopefully pass on some money-saving tips and general advice about settling in. I am currently leading the Blog Team and I look forward to creating new content this year!

Ilinca Olteanu

Hi guys! I’m Ilinca, a postgraduate Public Policy and Management student and I have been a Money Mentor since February 2022. I joined the team to increase my financial awareness, as well as to help fellow students looking for guidance. I am the Head of the Social Media Team, and I actively manage our social media platforms and create content. I can’t wait to see what the upcoming year at King’s brings us!

Amber Naeem

Hi, my name is Amber and I’m currently a fourth-year medical student. I joined the Money Mentors team two years ago and in that time I’ve been able to interact with new students, help organise in-person campaigns, create fun social media posts and share financial guidance with peers. More recently, I’ve become a permanent member of the social media team which I hope to promote even more throughout the next year!

Ami Jemide

My name is Ami and I’m a final year law student. I’ve been a money mentor for two years. The best part of this role – and the main reason I applied for it – is being able to learn more about money management while teaching it to my peers. It’s a mutually beneficial relationship really! I’m looking forward to the ‘big events’ like National Student Money Week and Welcome Week.

Tom Appleby

Hi, my name is Tom and I’m currently a second-year Philosophy, Politics and Economics student. I became a Money Mentor not only to receive some income whilst taking my degree, but also to learn more about money matters and help other students with any problems related to money, as this is such a vital part of student life. I am looking forward to meeting new people and helping other students to feel more secure in their financial knowledge, which will help them make the most of their time at King’s.

Sam Landells

Hi I’m Sam, and I’m entering my 3rd year of the graduate entry medicine programme! The reason I became a money mentor was because I wanted to share what I’ve learnt about managing a student budget over my 5 years (and counting) at uni. I’m most looking forward to our National Student Money Week, where we run events every day, with lots of fun stalls and interesting people to meet!

Amaliia Popova

Hello! My name is Amaliia and I am a second-year BA International Relations student! This is my second year as a Money Mentor and I am very excited to be a part of such a driven team and help improve our community’s financial awareness.

Afra Alam Haque

Hi, my name is Afra and I’m a third-year medical student. Coming into university, money was always one of my biggest concerns. I was entering a new stage of my life where I needed to manage my money carefully and responsibly. This led to a journey of learning about budgeting, saving and spending responsibly by getting the best deals and discounts around London. I joined the money mentors to help other students build more confidence about managing their money whilst also encouraging everyone to have a positive experience at university without breaking the bank!

Evlyn Joseph

Greetings! I’m Evlyn, a postgraduate student studying International Relations. I became interested in the King’s Money Mentors even before coming to King’s, because of their online presence and how they helped me during my preparation to study abroad. I was also impressed by the impact the team created when I interacted with them during Welcome week. I am thrilled to be a Money Mentor because I have the opportunity to navigate students in the direction of financial awareness and also learn from them. I am looking forward to being a part of this cohort and to conduct fun activities during the campaigns this year.

Hope Jeffcoat

Hi, I’m Hope and I’m a second-year Geography student. I took on this role not only to understand more about budgeting and saving money, but to help other students develop healthier relationships with money at university. Next year, I am looking forward to taking on more responsibilities, especially in the BlackBullion Team. I’m hoping that more students will be able to interact with Blackbullion in the upcoming year, and I’m looking forward to developing my design skills and working with my amazing colleagues.

Duaa Ali Faruqi

Hi, my name is Duaa and I’m a final-year medical student. I am really interested in learning about managing money myself and also helping other students take control of their finances. I’m looking forward to learning more about finances and building on my knowledge. I’m excited to share my experience and knowledge to support other students too.

Claire Han

Hi, I’m Claire and I’m a third-year medical student. Having lived in seven different countries, I’ve learned the importance of smart money management and how to adapt to various financial situations. My goal is to make a positive impact on fellow students’ lives, whether this is through a friendly chat or by sharing practical tips on saving and growing money!

Where can students speak to or connect with the Money Mentors?

Students can reach out to Money Mentors on Instagram and ask any money-related questions they may have! You can also take a look at our Money Mentors blog for some tips on managing your money and staying (financially) safe during your time at university. However, if you need specialist advice tailored to any complex financial situation or have serious concerns that require urgent help, please contact the Money & Housing Advice Service where you can speak to a Specialist Money & Housing Adviser.

Whether you’re interested in speaking to another Money Mentor or are hoping to become a Money Mentor yourself, we hope this blog post gives you a better idea of who we are and what we do alongside our specialist advisers. Student Servies also has a page on Money Mentors, should you be interested in learning more about us! Finally, if you have any concerns about financial wellbeing or wish to know more about what we do, again, please do not hesitate to contact us on Instagram!

King’s Student Money Mentors
Part of Money & Housing Advice