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Londons an expensive city for pretty much everyone, even the locals. It may be cheaper to stay just outside of London, where its much cheaper and then travel in by train or tube as transport links to London are pretty good.
There are always loads of free events and exhibitions going on around London such as the Tate which you can always research. Food is generally a bit more expensive in London but not always and its normally good.
Anyway, London is always well worth a visit, jut make sure to bring an umbrella!!
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