Iceland 101: How to Save Money

Iceland is beyond beautiful, though I am sure you don't need me to tell you that. With breathtaking views, its no wonder its a top place to visit for many. It is also one of the most expensive places to visit, and that is coming from someone has managed to visit 50+ countries with little-to-no money in my account and having to rely on the cheapest options for almost all of my trips. And even as someone who prides herself in figuring out how to make any trip affordable, Iceland still left me with a nice whole in my wallet.

However, with all that being said, there are ways to greatly reduce the cost to make it a lot more friendly on the wallet. Here are 4 ways I found to save money while traveling for a week in Iceland.

Bearing in mind I calculated the cost for me to go alone and also the difference if I was with someone to split the costs. For me as a solo traveler I spent a total of €1,570 for a week, that included a pricey plane ticket and some 'splurging' on my last night in Reykjavik. However, if there are two or more people, the total costs for food (not eating out), accommodation/transportation, gas and miscellaneous parking drastically decrease (such as €450 a person, if there are two, for off-peak season).

1. Rent a Campervan

The biggest money saver for me was having my accommodation and my vehicle all-in-one. To rent an automatic van for a week, including all insurance and equipment (sleeping bag, pots, stove, chair/table, etc), it was about €400. I rented mine from Campervan Reykjavik. I really enjoyed my experience with the ease that it was to get my van, and by having the van upon arrival I saved money having to take a bus from the airport to the city centre, as the company picks you up and brings you to their renting office.

While it is no longer legal to camp anywhere in Iceland, there are lots of options for camping (both for tents and vans) throughout the country. And while each spot ranges in costs, the most I paid was 1750 ISK (€12.50) a night to pull my van into a spot. Also, almost all the spots offer hot showers and spots to clean dishes/refill water. It is important to note that not all the camping locations are open all year around, but even when I went in April I will still able to find several camping spots open.

Another nice perk to having your accommodation in the 'back seat' usually paying for a camping spots stops you from having to pay for parking to some of the more popular tourist attractions, and gives you the opportunity to see the more popular spots at times when there is little-to-no one around. When I stayed in Skogarfoss, I was able to enjoy an early morning walk around with no one around.

And if you are not super keen on the campervan, another option is to rent a regular car and pitch a tent. Which still allows you just as much flexibility and comes out to be roughly the same cost.

2. Cook Your Meals

This might seem as a no-brainer, and if you are camping it is pretty common to cook your meals. But one of the areas I found I spent a lot of money on my last night in Reykjavik was in food. But when I was out exploring and hiking, the food I had purchased at the grocery store worked wonders and I did not need to restock on my supplies to entire time I was on the road. And if you meal plan and buy local where possible, you can spend less than €100 for a week (I spent roughly €75 for a week's worth of food, including some snacks and treats).

This also goes to say, things such as water can be drank all over the island for free. So buying water is another expense that can be avoided by just refilling your water whenever your at the campsites or a spot with a sink. Or if you want to be a bit more adventurous, you can drink the spring water... it is fresh glacier water, so no worries about contaminates.

3. Avoid the Blue Lagoon

While the pictures seem super cool and it is a top tourist spot, if you are wanting to enjoy a natural geothermal pool, head up to the Secret Lagoon, where you can enjoy the same type of waters but for only about €30.

Otherwise, if you are wanting to enjoy a natural hot spring, there are so many different springs scattered around that cost little-to-nothing, including a hot spring river that you can hike to (and I highly recommend).

*If you are going to opt for the natural hot springs, please be considerate of the land and the opportunity to enjoy the beautiful spaces. There has already been hot spring locations that are no longer permitted to visit due to degradation and misuse/mistreatment.

And if you are just staying in Reykjavik, consider going to a local 'swimming' pool where the water is fed by geothermal waters, just like blue lagoon.

4. Utilise Public Transportation

If you find yourself needing to get around Reykjavik area, or to/from the airport. Consider taking public transportation. While the bus to/from the airport has weird hours and can sometimes be a annoying with times, taking the public bus can save you as much as 10 euros each way, with a ticket costing 1960 ISK (roughly €14 ) and a private bus costing anywhere between €25-€60. And timing wise, it comes out to be only about 15 more minutes than if it was a private transfer.

These are just a few ways that I found ways to avoid paying the insane amounts that comes with a trip to Iceland. And I found that by saving in these areas, I was able to enjoy a bit of an evening the city, where other wise I would not have been able to even enjoy a drink or nice meal.

And if you are one that enjoys the comforts of a hotel and the ease of being shuffled around from place to place, then definitely stick to the tours. However, if you are wanting to really take in all that Iceland has to offer, but not pay the high rates, this is a great way to see the country.