15 Travel Tips For Visiting London on a Budget

London is one of the world’s most culturally rich, historic, and fun places to visit. It’s also one of the most popular cities to visit in the UK. But, it can break the bank if you’re not careful. 

The good news is that there are plenty of ways to save money including tons of free and low-cost things to do. With some research and advanced planning, you can be a savvy traveler, scoring discounts on everything from attractions and transportation to food and theater.

Many of these tips are for before you even set foot in the U.K., leaving you free to enjoy your trip without counting every pence. Don’t let the perceived cost of a trip to London deter you from experiencing this incredible city. Here are 15 tips to save money when visiting London.

Pick Your Hotel Carefully

Lodging will likely be the biggest expense of a London trip, so it pays to compare prices and availability on a few websites. 

But before you do that, you should have a good general idea of where you will be spending your time. London is very spread out, and transportation can eat up a good part of your day and your budget. Unless it’s the only deal you can find, if you’re only in town for a few days, don’t pick a hotel that is an hour away from central London and includes multiple Tube transfers and a hike to the nearest Tube station. 

Look wherever you usually book travel, remembering especially to check for discounts where you have affiliations like AAA, Travelzoo, and AARP. See if you have travel points you can use. Also check Airbnb and search more generally for apartment hotels as they often have more space and money-saving amenities like a kitchen. 

I stayed at No1 The Mansions by Mansley and I couldn’t have been more pleased. It was large, the kitchen and laundry saved me money, and it was centrally located on Earl’s Court Road, steps from a Tube station that is a straight shot on the Piccadilly Line from Heathrow. 

Know Your Options for Airport Transfers

London has six airports, and each has a rail line—and London City Airport and Heathrow have Tube stops—so don’t jump into a taxi without understanding your options. 

For example, a trip from Heathrow to Earl’s Court will generally cost around £75 by taxi, £15 via the Heathrow Express train to Paddington and then a transfer to the Tube, £5.50 by Tube alone, and free (no extra cost) if using a Visitor Oyster Card.

Purchase a Transit Pass

If you’ve never ridden in an iconic London black cab, by all means, flag one down for a short trip. However, taking public transportation can save you hundreds of pounds. 

The Tube is fast and easy to ride, and double decker red buses, although slow, provide great views.

If you have planned your trip at least a month in advance, order Visitor Oyster Cards and you’ll receive your discounted transportation cards by mail. These result in tickets that on average are half the price of those purchased on site. In addition, you will be eligible for special offers.

Try not to travel during rush hours as not only are the trains and buses packed but they are also more expensive. By avoiding rush hour travel, you will save money and your Oyster Card will last longer. 

The London Travel Card is another option and is most useful for people on shorter trips.

Use the Citymapper app or Google Maps to help plan your route with information about modes of transportation, timing, and cost.

Consider Renting a Bike

Renting a bicycle is another money-saving option, but be wary of the rules of the road in the U.K., as they drive on the opposite side as in the U.S.

If you’re not intimidated by that or by the physical exertion or by the weather, check out Santander Cycles. Also known as Boris Bikes, after former London mayor Boris Johnson, a full-day Santander Cycle rental is only £3!

Be Wary When Buying Sterling

Not only is London expensive in general but it is more expensive for Americans because of the exchange rate. The British pound fluctuates but is historically stronger against the U.S. dollar, recently averaging an extra quarter on each dollar spent. 

It’s always a good idea to have local currency before you leave the U.S. to ensure you’re able to tip and to purchase items where credit cards aren’t accepted.

If you forget or didn’t leave enough time to arrange it before you get to the airport, you can use an airport currency exchange. However, their exchange rates and transaction fees are usually higher than a bank’s fees.

Your home bank will most likely offer the most reasonable exchange rate and a competitive fee that could save you a noticeable amount of money before you even leave home.

Other options for buying sterling include walking into a branch of your bank in London either with American dollars to exchange or with an ATM card. However, find out ahead of time if you will be hit with foreign transaction fees for using your ATM abroad.

It’s also a good idea to keep an eye on exchange rates and purchase sterling months in advance if there’s a dip in value. 

Watch Out for Foreign Exchange Fees

Credit cards are accepted almost everywhere, they’re easy to carry and use, and they free you from holding big wads of cash. But beware of foreign transaction fees, as these are added on top of a card’s interest rate.

Before you travel, check to see if you have a card with no foreign transaction fees, and use that one for tickets you might buy in advance as well as for meals, hotels, and other transactions in London.

If a card has a 2.7 percent foreign transaction fee and you charge $2,000, you would save $54 by using a card with no fee. It adds up, especially when you include interest, which averages 20 percent.

Visit Free Museums

Culture lovers will be delighted to learn that many of London’s top museums are free, although some may charge a fee for special exhibitions and for tours.

You can marvel at the Natural History Museum’s dinosaurs, be wowed by millennia of art and artifacts at the British Museum, take in the da Vincis and van Goghs at the National Gallery, and see the Tate Modern’s contemporary art, all for free.

Plan Free Activities

In addition to museums, many attractions and activities are also free.

The free, 45-minute Changing of the Guard ceremony at Buckingham Palace happens four days a week. London also holds countless free festivals, parades, and events every year like the Trooping of the Colours in June, Open House London in September, and November’s Bonfire Night. See what’s happening during your dates by searching calendars at Time Out and The Standard.

You could pay £29 to tour Westminster Abbey and £25 to tour St. Paul’s Cathedral – both very much worth it, and with proceeds supporting these incredible institutions. However, they are free to visit if you attend a service. I recommend evensong, which is a short service that includes the ethereal voices of a choir.

Harry Potter fans will want to get a photo at Platform 9 ¾ at King’s Cross (or do the Warner Brothers Studio tour, which is not free). 

Shopping can be entertaining and free if you don’t buy anything! Get lost in Harrod’s, browse the shops in Camden Town, or wander down Oxford Street. Along the same lines, exploring neighborhoods like Notting Hill can be low cost depending on where you eat and shop. 

Take a Free Tour

Believe it or not, it’s even possible to take a free guided walking tour of London with companies like Free Tours by Foot, Walkative, and Sandemans.

There is no cost for these tours, but it is expected that guests tip their guides for providing this valuable service. 

Research Sightseeing Passes

If you are going to pack in a lot of sightseeing, you could save money by buying a pass like the All-Inclusive London Pass or the London Explorer Pass.  

With the All-Inclusive London Pass, you pick the number of consecutive days you want to use it (1-7 or 10) and then you have access to nearly 100 activities and attractions including a bus tour and the Tower of London. This is good for people who want to experience as much as possible in a short period of time. To use it successfully, you’ll need to plan your time efficiently.

The London Explorer Pass includes admission to 2-7 attractions over 60 days that don’t need to be consecutive. This is good for travelers who don’t want to be locked into certain days. 

Note that some attractions require showing your pass at the ticket counter and receiving a paper ticket before entering. 

Book Online in Advance

If you don’t think you’ll do enough sightseeing to use an attractions pass, another way to save on visits is by booking tickets online in advance. 

Attractions often provide discounts of 5-10 percent if bought online. This adds up if the ticket price is high and/or if you’re buying multiple tickets.

This method also saves you from waiting in line to buy a ticket onsite and ensures that you have access to popular attractions at the times of your choosing.

Look for Discount Vouchers

Although many deals are targeted to locals, perusing sites like Groupon and Wowcher will turn up tons of discounts for attractions, restaurants, and experiences like an afternoon tea bus tour and tickets to Wicked. 

Be sure to read the fine print for dates and other restrictions and look up the address on a map to make sure the location is in London proper. 

These voucher sites are good ways to discover things to do that might not have been on your radar. And of course, remember to bring proof of the deal with you for redemption.

These voucher sites also offer discounts on purchases, especially for new customers, so look for deals for the sites themselves before you purchase.

Save Money on Food

A London restaurant bill can cause sticker shock if you’re not careful: Always look at a menu before deciding on a restaurant. Set your sights on small eateries, takeaway shops, and local fast food for the best deals.

Indian, Middle Eastern, and Asian restaurants are plentiful and often affordable, even more so if they offer buffets. If your accommodation has a fridge and microwave, leftovers halve the price of a meal.

Especially if you have a kitchen, stock up on food and beverages at grocery stores. Making a quick daily breakfast, for example, will save you a lot of money. Even if you don’t have a kitchen, look at a grocery store’s prepared food section and grab a sandwich or salad to eat on the go. And a trip to London isn’t complete without a visit to a fish and chips shop!

Save Money on Theater Tickets

Maximize Your Sightseeing Dollars 

All the tips here have the same goal of saving you money, but if you consider each attraction individually and carefully, you will maximize your tourism dollars.

For example, on my last trip to London, I was disappointed by one attraction and very pleasantly surprised by another. If I had known that each ride on the London Eye was only one complete turn, I would not have spent the money or the time waiting in line to experience it. 

Without using an attractions pass, the walk-up price for the London Eye is a whopping £42. Madame Tussauds is the same price but offers much greater value. 

The London Eye was fun for the first five minutes, and then boring for the remaining 25. Madame Tussauds packs several floors full of lifelike, costumed wax figures from many eras, posed in appropriate settings. You can sit next to Chewbacca in the Millennium Falcon, swivel a chair on The Voice set, jump on ET’s bike, and crouch down next to Spiderman for a Spidey selfie.  

My family of four spent close to two hours at Madame Tussauds and had a blast. It was included in our sightseeing pass, but if it weren’t, it would have been worth the price, especially if we had booked online and saved £5 per ticket.