With the rising cost of living, managing your money as a student in London is more important than ever. During National Student Money Week, the King’s Student Money Mentors are on hand to give you tips to help you make the most of your money. Find them across King’s campuses from Monday 3 – Friday 7 March 2025.
This year’s theme, ‘Survive and Thrive’, is about building your financial resilience. To find out how students can take control of their finances, I spoke to Claire, one of King’s Student Money Mentors. They're a team of trained students who provide peer-to-peer financial guidance as part of the Money & Housing Advice Service.
What do Money Mentors do?
Most conversations with a Money Mentor start with a simple ‘London is expensive!’ It’s true but, as Claire explains, the real challenge isn’t just the cost of living, it’s knowing how to manage your money effectively.
‘Most of the time, it’s just an informal chat about how tough it is to budget in London,’ she says. But occasionally, students come in with more complex concerns. Things like sorting out accommodation, understanding bursaries, or dealing with unexpected financial hurdles. In those cases, the Money Mentors direct students to the Money & Housing Advice Service, where professionals can offer more in-depth support.
What makes this peer-to-peer service so valuable is the relatability factor. Talking to someone in the same position feels a lot easier than sitting down with a financial professional. There’s no judgement, no awkwardness, just practical tips from someone who genuinely understands the struggle.
Thriving on a student budget
Having worked with students from all backgrounds, Claire’s picked up some essential money-saving strategies. Here are her three top tips for making your money go further:
- Learn to cook. Groceries can be expensive, but batch-cooking meals is still far more cost-effective than constantly eating out. Plus, home-cooked meals are usually more filling, healthier, and better value for money.
- Always ask about student discounts. Many places offer discounts for students and NHS staff, but they’re not always advertised. If there’s even a chance of a discount, it’s worth asking — a 15% saving here and there really adds up.
- Walk or cycle when possible. If your destination is less than an hour’s walk away, consider skipping the Tube. Claire also recommends using Forest bikes, which are a cheaper and more flexible alternative to public transport. For those who rely on public transport, she suggests looking into a Student Oyster card or pairing a Railcard with a Travelcard for extra savings.
Surviving on a student budget
Even the most budget-conscious students need survival tips. According to Claire, these are the most common mistakes and how to avoid them:
- Not setting a budget. If you receive your loan in one big lump sum it’s easy to overspend without proper planning. By the third week of the month, some students find themselves with just £10 left. To avoid this, Claire recommends using BlackBullion, a free budgeting tool for King’s students that syncs with your bank account and offers courses on finance, investing, and avoiding scams.
- Overlooking student job opportunities. King’s Talent Bank and CareerConnect offer part-time jobs that fit around academic schedules, but you might not realise how accessible these opportunities are. Getting ahead of the game and looking early can make a huge difference.
- Not following the King’s Money Mentors Instagram. It may sound minor, but Claire insists that this is one of the easiest ways to access financial tips and ask quick questions via DMs. From bursary updates to budgeting hacks, following the Money Mentors can help you stay on top of your finances with minimal effort.
Where to find the Money Mentors
If you want to chat with a Money Mentor, National Student Money Week (3-7 March 2025) is the perfect time to start.
Throughout the week, Money Mentors will have stalls across King’s campuses. Drop by for tips and freebies.
Beyond this campaign, students can find Money Mentors via:
Instagram (@KingsMoneyMentors) – The easiest way to stay updated and ask questions.
Flyers around campus – Locations of pop-ups will be posted in libraries, cafeterias, and accommodations.
Email – A direct way to reach out for more detailed recommendations.
So, whether you’re figuring out your budget, searching for accommodation, or just looking for small ways to save, reaching out to a Money Mentor could make all the difference. Even if you think you’ve got it all under control, Claire puts it best: ‘There’s always something new to learn, and just having a chat can be more helpful than you’d expect.'