‘Housing & Renting Emergencies ‘ – National Student Money Week Testimonial

Photo by Tierra Mallorca on Unsplash

Renting is difficult in the best of times, and with the onset of the Pandemic and the government’s restrictions, it’s become even trickier. 

Last summer I was looking to move out in anticipation of starting university in September. With two other friends, I looked for housing in the private sector. Some of the websites I used to look were Spareroom, Zoopla, RightMove and PrimeLocation. When beginning my search, it was important to have a few key considerations in mind.  

Firstly, what is your budget, and remember this must take account of the rent price, utilities, transport and food. Once these are accounted for you must have some disposable income (defined as the money left over after essentials are covered) otherwise you’ll be left struggling at the end of the month. Secondly, location matters. I needed to be close to uni, specifically the central line. Proximity to the right underground station or bus stop is very important. Thirdly, do you need the flat/house to be furnished or unfurnished (preferably the former since it saves you having to move your furniture in or buying anything). Finally, either through a virtual or physical tour, where permitted, make sure to see the property. Images can look different online and some websites may not have images or videos for every property listed. Visiting the flats weren’t always easy to get to and particular places were often disappointing in person.  

In the end, this unexpected development prevented me from moving out. Due to the lockdown, one of my friends could not move to London. Sadly, this meant my other friend and I could not afford to live out with only two of us paying rent. Although we looked for cheaper two-bedroom places these are not necessarily easy to find, especially at short notice. In my situation, I was lucky to be able to live with my parents in London.  

Zwan Mahmod
King’s Student Money Mentor
Part of Money & Housing Advice
Studying Modern History MA (PGT)

Need to speak to a Money Adviser? Call the Student Advice Line.

For more information on private sector housing, take a look at the following video workshops: Beginning your search, Viewing a Property, Signing a Contract 2020, Moving In!

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. 

‘Expect the Unexpected’ – National Student Money Week Testimonial

Photo by J. Kelly Brito on Unsplash

Entering university shifted my whole life, it was a complete change, my environment and everything I knew simply disappeared, and I was completely alone for the first time. I remember my induction class, the people around me, the feelings I had, was it happiness or excitement? Or maybe all my feelings combined? During my first week of university, I had to familiarise myself with my new surroundings and getting used to uncertainty is always difficult. 

I did not expect the unexpected and that made my situation worse. A specific case happened during my first week of university. My student loan did not come through neither did I have a laptop or money to pay my monthly rent. It was then the last week of September and I was told that I would not receive any money until at least two or three weeks. I was very desperate and just did not know what to do or expect. 

After a few days of thinking and looking at all my options I stood up and started to create a ‘salvation plan’. I contacted King’s Student Funding, my bank, student finance and every service I could in order to obtain some type of funding. That same day King’s Student Funding department emailed me back and after hours of research, I got a temporary loan in order to pay my rent. The library services told me that I could rent a laptop for 24 hours every day and that saved me! The next day my bank contacted me and told me that I could obtain an overdraft of £1,500!  

At the end, everything turned out well and I was able to pay back my loans and obtain my student funding a few weeks later. I did not plan for the unexpected and that was a huge failure on my side. My first few weeks at university would have been much easier and fun had I planned for the unexpected, from there on I learned to always expect the unexpected, so always have a contingency plan. 

Lisa Maria Martin
King’s Student Money Mentor
Part of Money & Housing Advice
Studying Psychology BSc (UG)

Need to speak to a Money Adviser? Call the Student Advice Line.

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. 

‘Making Use of Student Opportunities Fund’ – National Student Money Week Testimonial

Photo by Micheile Henderson on Unsplash

University is a great time for you got involved with all kinds of crazy opportunities to enhance your CV and to help you get your dream job later on. Last year, I was offered the chance to go to NASA Kennedy Space Centre in Florida to set up some biomedical payload experiments that I had been working on in the lab at King’s. I was incredibly excited but one of my immediate thoughts was how I was going to fund this trip. Usually, I like to plan ahead for big trips and slowly start saving for them, however on this occasion I only had 3-weeks’ notice! 

As someone who has always been very careful with my money, I did not want to throw my budget plan off and put myself in the position of having money troubles on returning from the trip. On the other hand, I did not want to miss out on this great opportunity, that may not come around again. I needed a plan!  

A friend told me about some organizations and companies that offer bursaries to help students with space-related research. As soon as I could I started emailing some of them. However, due to the short notice they were not able to help me. After doing more research, I decided I needed to look more locally and see if King’s could help me. After all, this would be an opportunity to develop my skillset and I had worked in the labs at King’s! That is when I found out about the Student Opportunities Fund. This is a scheme set up by King’s to help students fund opportunities related to career development. The money you apply for can be used towards conferences and research experiences. The process was also simple. It involved filling in an application form detailing the opportunity and then got assessed by a panel at King’s.  

Although it did not cover the entire cost, it covered a significant proportion and made the trip more affordable and accessible to me. The only drawback was that I had to pay for the trip and then claim reimbursement (but this is the case for most award schemes.) Whilst this involved playing around with my budget plan, using some money that I had saved up, and being more frugal until I got that money back, I knew in the long term my budget plan would be back on track. 

I am very grateful that funds like this exist, however, I feel that many students do not know this and miss out on opportunities that would enhance their professional development because they do not have the money to do it. In an ideal world, you should plan big trips and save for them slowly, whether that is tweaking your budget for the next couple of months or looking for a job to help fund it. In some cases, opportunities may arise unexpectedly and whilst it may feel easier to spend now and worry later or miss out on opportunities altogether, there are other options. Especially if the opportunity is educational or will contribute to your professional development, there is support out there for students from various sources, which you should take time to explore. An even better approach is to slowly save money on the side and to try and expect the unexpected! Having some savings on the side is how I could initially pay for the trip. Whilst I did not intend to use those savings for this circumstance, I am very glad that I had some money set aside. Even after this amazing trip, I try to save when I can because who knows what crazy opportunities, I can be a part of in the future!   

Chloe Mohanadas
King’s Student Money Mentor
Part of Money & Housing Advice
Studying Medicine MBBS (UG)

Need to speak to a Money Adviser? Call the Student Advice Line.

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.