There’s no doubt, London is a vibrant city. It’s overflowing with history, beautiful spaces, all kinds of entertainment, and great places to eat. There really is something for everyone in this bustling capital city. But it can also be expensive to live in or visit.

If you’re on a tight budget, there are ways you can save money living in or visiting the City.

1. Create a budget and stick to it

If you want to know how to save money in London, start by making a budget. Work out how much you’ve got to spend on accommodation, food and entertainment. Once you know what your budget is, you’ll be able to find ways of doing what you want in ways you can afford.

There are plenty of free or low cost options available if you know where to look. It means you can still enjoy London without breaking the bank.

2. Set a daily spending limit for yourself

If you know you’ve got a daily budget it can be easier to stick to. Just work out how much you can afford to spend each day and focus on that. Give yourself a spending limit and be strict with yourself. If you can’t help buying on impulse, take out the cash and leave your cards at home. That way you won’t be able to go over your budget.

3. Cook your own meals rather than eating out

Eating out can quickly use up your Money. If you can, prepare food and snacks at home before you leave, you can save money that way. There are plenty of places where you can sit and watch the world go by while eating your own food. Whether you’re in central London or a bit further out, you’ll be spoilt for choice with places to sit and enjoy.

4. Get a part time job to earn extra income

When you’re living in London, saving money can be hard. That’s when a part time job can help. You not only get to earn some extra cash, but depending on where you work, you’re might get discounts or some free food.

5. Get the London Pass

If you’re visiting London for a few days then the London Pass can be a great way to save money. You can buy one of their packages to cover you for one or more days. You can then use it to gain entry into some of the top London attractions.

If you plan on cramming in as much as you can during your stay, you can make big savings with the London Pass.

6. Choose your accommodation carefully

Staying in London can be a drain on your bank account, so look around for the best places to stay. Whether it’s student accommodation or a nice hotel, there’s a huge range to choose from. Check on Airbnb for more homely places or websites like Booking.com will often give you discounts on hotels.

7. Get an Oyster Card when travelling in London

London has an excellent public transport system, and an Oyster Card lets you travel around easily. You load money onto your Oyster Card, then tap it when you board or leave the train or bus. Each time you tap, it uses up the credit on your card. It’s a handy way of getting round London.

8. Take the bus or train whenever possible

If you’re thinking of bringing your car to London, think again. The buses and trains run frequently and can quickly get you to where you want to go. They’re much cheaper and faster than travelling by car and you avoid paying congestion charges too.

If you sit up front on the top deck of a bus, you get to see London life as it passes you by. This is cheaper than buying a ticket for the hop on hop off tourist bus too.

9. Get a railcard for National Rail trains

If you’re commuting in and out of London, then a railcard can save money on National Rail services. For example, if you’re aged between 16 and 25 you can get a railcard that’ll save you up to a third off your train tickets.

10. Travel during off peak hours

If you travel on public transport during peak hours, you’ll pay higher fares. They fall between Monday to Friday (not on public holidays) between 06:30 and 09:30 and between 16:00 and 19:00. By travelling outside of these times you’ll save money in London, and it’ll be less busy.

11. Use bikes to travel around

Cycling is a cheap way of getting round London and it helps to keep you fit. London’s cycling routes have improved making it easier to get around by bike.

You can hire bikes from docking stations all over the city or from bicycle hire companies. London’s public bike hire scheme starts from £1.65 for 30 minutes. They have 800 docking stations and 12,000 bikes around the city so you can easily find one near you.

12. Look for freebies around you

There are plenty of hidden gems all over London waiting to be explored. Wherever you live, find out what’s waiting to be discovered nearby. You might be surprised at what you can find that’s within walking distance. For example, you could:

• Go for a wonder along the canal in Little Venice
• Visit one of the free museums like the Natural History Museum
• Have a picnic with a view at Greenwich Park

13. Use student discounts and vouchers

If you’re a student, you can get discounts in lots of places. The Oyster Card offers a student discount as do many shops. If you’ve got a blue light card, you can also get discounts in shops and restaurants. If you’re looking for vouchers, Smartsave gives you up to 20% off many London attractions.

14. Always ask for a discount whenever shopping

You may not be in the habit of asking for a discount when you’re out shopping, but it’s worth a try. You’ll be surprised at the reductions you might be able to get. There might be offers available that you’re not aware of so give it a go, you’ve got nothing to lose.

15. Ask for tap water rather than bottled water

Bottled water can add quite a few pounds onto your bill. Tap water is safe to drink in London so why pay for it. Keep the money you save on bottled water to put towards the tip.

16. Take advantage of happy hour deals

Wherever you are in London there’s bound to be somewhere nearby that has a happy hour. You can get your evening started with a couple of cocktails at a discounted price. You’ll find offers that give you two drinks for the price of one so long as you buy them before the happy hour ends.

17. Visit street food markets to eat out

Save money on eating out by going to street food markets instead. London has plenty of them to choose from. Street markets are great places to eat as you get tasty food without the overheads a restaurant has. And the food is unique as it’s made by people who are passionate about what they produce.

18. Buy grocery store meal deals

If you’re looking to save money on food, why not try the supermarkets. You can find plenty to choose from for lunch or something a bit more substantial for dinner. You’ll need access to a kitchen if anything needs cooking. But supermarkets tend to have meal deals that are good value for money. And you get a good selection to choose from.

19. Eat at restaurants which offer set menus

If you have to eat out, you can save money in London by going to places that offer set menus. You’ll be able to fill up on two or three courses for a fixed price. They work out cheaper than choosing from the a la carte menu. And set menus can be a cheap way of trying out new places to eat out.

20. Visit British museums which are free

We’re lucky that we can visit some great museums in London for free. There are many to choose from, including some of these:

• The National History Museum
• The British Museum
• The Science Museum
• The Victoria and Albert Museum
• The Tate Modern
• The British Library

21. Compare prices online and book in advance

Whether you’re going on a short break to London or a day out when you live there, plan your trip. If you know where you want to go you can look online for the best discounts. You might find that booking in advance gets you the best deals so do your research before you leave home.

22. Get cheap theatre tickets

If you love the theatre, there are ways you can get tickets for less.

• Book online in advance and you might get some good discounts
• Go to the TKTS ticket booth in Leicester Square where you can get some last minute tickets cheaply
• Line up at the theatre ticket office for the show you want to see to try and get stand-by or returned tickets

23. Visit the Sky Garden instead of the Shard or London Eye

The Shard or London Eye are popular ways of seeing panoramic views across London, but they come at a cost. As an alternative, go to Sky Garden. The cityscape views are just as impressive but it’s free. You have to book your ticket in advance, but you can get your ticket up to three weeks ahead.

Final words

London might well be one of the most expensive cities in the world but that doesn’t mean you can’t enjoy it. There are ways you can save money and still experience the best London has to offer. It’s a vibrant place to visit with many attractions that are free. Take on some of our top tips and you’ll get to save money on your next day out in London.

Disclaimer: The information given above is provided for reference only. This is not financial advice.