When traveling abroad there is always something we all should do: use our sense. This applies to one of the most important aspects of any travel, your budget. Not everyone has the same amount of money available for expenses but something is true, Iceland is not cheap. So why no checking some options that allows us to Save Money In Iceland?

If you really can afford anything and everything, then probably this post is not for you. (But do not go too far away, we have some other great posts in this blog). On the other side, if you are on a budget, low cost traveling or just would like to save some bucks, stay right here!

Before Coming to Iceland:

1. Be aware of Currency and Bank’s commission.

Before traveling to Iceland, it is a great idea to check with your bank if they have commission for foreign transactions. Some banks charge almost $3 per payment due to currency exchange. Some banks offer free withdrawal at international ATM’s if the amount is more than $100. And if you are a lucky one, some banks just do not charge commissions if you use certain banks that operate in the same network as the one in your homeland.

All of this valuable information can make you Save Money In Iceland so you can later on invest in a yummy Icelandic hot dog!

2. Book ahead of time.

Iceland is expensive as it is but it can get even more expensive. To avoid this, be sure to book during the low season. Prices are way tighter, some rental companies offer early bird discounts and low season rates.

By doing this, you will not only have enough time to compare between accommodations or car rental services but also to help you Save Money In Iceland.

3. Consider the type of accommodation.

The hotel network in Iceland is more limited that the one you are probably used to in your home country. This means that hospitality offer is reduced and therefore prices skyrocket depending on the demand.

As many areas in Iceland are located in remote sites, sometimes you will find just one or two hotels (probably B&B or guesthouses) with an expensive rate. To avoid this, we would recommend renting a car and head to campsites or to rent a camper / motorhome. Campsites are all across the country, they are way cheaper and easier to reserve as most of them rarely get fully booked.

Having a vehicle will also save hundred bucks on tours and transportation. You can head to places like the Golden Circle at your own pace and Save Money In Iceland.

Once in Iceland:

4. Bottled water

Iceland has one of the purest water out there. Forget about buying bottled water, it costs about 400 ISK which is almost $3. Just bring your refillable bottle, get that tap water running.

5. Know where to get your supplies

If you are planning to get some healthy snacks or do some grocery, then choosing the right supermarket is quite important. There is a wide selection of them in Iceland, but many are very expensive.

Among low cost supermarkets you can find Krónan, Bónus and Nettó. Shopping in any of them will lower the impact on you budget and you will for sure Save Money In Iceland.

In case of souvenirs, you can find them at thrift shops for a tighter price.

6. Forget about alcoholic beverages.

This is something you can always have back home. Alcoholic beverages in Iceland are very expensive. So you can get an idea, a cheap beer can cost around $7. Thinking about a nice cocktail? Ok, then prepare about $15 for a mix. Is it really worth it for just a couple of days or one week in Iceland? In my personal opinion, I would save those bucks and invest them in something typical Icelandic that you cannot have back home.

Easy Way To Save Money In Iceland – Top Tips & Tricks

7. Take advantage of the promotions available.

Many places offer discount prices for being a student or senior, be sure to bring your student ID and personal ID with you!

When having lunch at a restaurant, remember that the menu or dish of the day have a much better price than eating a la carte.

Some museums are very interesting and free! They can be a great option for your trip scheduling!