Plan a trip to London without breaking the bank

>>> this morning on "today" in london , seeing the city for a little less. the editor-in-chief of "jet setter.com" is here with us to tell us what to do and how to stay on a budget. kate , good morning. good to see you. an expensive city.

>> it is. there are lots of activities and ways to see it for a lot less.

>> let's start with how to get around this city during the olympics and not during the olympics.

>> right.

>> what is the best way, the most economic way?

>> my preferred form of transportation is the cheap and it's been uncrowded this week. you need a traffic smart card . it's good for all forms of transportation in london and will save you a lot.

>> i see people riding around on these bikes all the time with the little blue flashing lights on the front. tell me about that.

>> yep. a boris bike, named for the man. they are a really great way to travel. you pay a one-pound access fee, $1.50, and then the first half hour is free and after that you pay about $1.50 an hour.

>> if you're walking through the streets and you want to go a distance do you recommend jumping in a cab?

>> i actually don't. they're really expensive and cost about $11 a mile which is a lot more than new york. however, you won't get lost in a london cab . they take a very intense course in which they learn 25,000 streets.

>> they know where they're going. no question about it.

>> yes.

>> let's talk about lodging. if you don't want to pay for a real swanky hotel what are the alternatives?

>> you could camp. there are camping grounds.

>> pitching a tent in the middle of london ?

>> or you can use a ready pitched tent. yes. that'll cost you about ten pounds, $15 a night. you get hot showers. some cases you get wi-fi. there are grocery stores . alternatively, there is a great website which has real londoners' apartments. they even throw in an iphone for you. or a bed and breakfast . they cost about a hundred dollars a night.

>> we're talking about getting around and where to stay. talk about activities now.

>> right.

>> we're in london . let's say the olympic games are not going on. tell me your favorite activities.

>> i love london 's royal parks . one of my favorite is richmond park which is three times bigger than central park . it's a bit outside the center.

>> don't brag.

>> they have deer roaming around and birds. kensington gardens which is where kensington palace , kate and william's home is.

>> it was newly renovated by the way.

>> exactly.

>> they did a massive renovation there.

>> yes.

>> talk to me about museums.

>> museums are free in london which is amazing. you can pay $20 in new york. i love the british museum , fantastic historical objects from all over the world including egyptian mummies and the rosetta stone . the natural history museum is great. it has a fantastic dinosaur exhibit. my favorite museum is probably the uk's biggest collection of modern art .

>> i will tell you we are having a blast here. london is doing an amazing job hosting these games.

>> i'm glad you think so.

>> kate maxwell, great to see you. appreciate it.