London is a city that needs no introduction. Even a first-time visitor is acquainted with landmarks such as the Big Ben, the London Eye and the Buckingham Palace. At the same time, London weighs on the heavier side when it comes to costs. A night’s stay in even an average hotel can set you back by about £160 and that is excluding the food cost, laundry expenditure if you are on a long stay; travel costs and the entry costs to tourist attractions.

However, that does not mean that you cannot enjoy a vacation in London without making a dent in your savings. All you need is to be travel savvy. To get you going, RatedApartments.com has compiled a list of top money-saving ideas contributed by seasoned visitors to London and helpful locals.

• Plan your travel in advance for the best deals: Scout around for the best deals; the internet is a booming place and most travel websites offer great deals on accommodation and flights, especially during the low season. The earlier you plan, the more you save on travel costs.
• Buy e-tickets to London’s attractions online – it turns out to be much cheaper and you can avoid the long lines as well.
• Look out for alternative form of accommodations especially if you are travelling as a large group. Hotel rooms for a large number of people often can be very costly, no matter how good a deal you get. Alternative forms of accommodations such as vacation rentals, serviced apartments, self-catering apartments, hostels and dormitories often turn out to be much cheaper.
• Vacation rentals also have the additional benefits of having their own kitchen, which can help a great deal in reducing the food costs.
• Opt for the public transport: London’s tourism authorities have launched several environment-friendly transport schemes such as the Barclays Hire-a-Cycle Scheme, which are cheap on the pocket. For instance, there is no charge for the first half an hour and it costs only £1 for every hour. In addition, cycles can be hired and dropped off at any docking point.
• Oyster Cards: Oyster cards are some of the most beneficial and cost-effective commuting options issued by or on behalf of London’s transport authorities. A small blue card, the Oyster card can be used for London tubes, National Rail, Docklands Light Railway, London Tramlink and even London buses. You can easily buy an Oyster Card online in advance and get them delivered to your home.
• For entertainment, check out if there are any local events coming up during your stay. You need not be a billionaire to enjoy the best of London. Events such as the London Cocktail Week, London Restaurant Festival and BBC’s Proms in the Park open the best of London’s dining and entertainment to the public. There are also free events such as the Mayor’s Thames Festival and the Notting Hill Carnival that are perfect for a wild night out.