10 Ways to Save Money In Iceland

Wow!  Iceland is expensive!  And it’s not the price of airfare or hotel that will give you sticker shock.  It’s the price of food and getting around that will break your budget.  Here are some ways to save while you’re spending time in the country.

TRAVEL

  • Book the Bus — If you haven’t rented a car, Flybus is the cheapest way to get from the airport to Reykjavik.  It’s easy to use and will either drop you at your hotel or a bus stop near your hotel or Airbnb.  Since the airport is about 45 miles outside of Reykjavik, this will save you some big bucks.  Plus there is free Wi-Fi on board!
  • Skip the Taxi — Iceland doesn’t have Uber yet, so taxis are the easiest way to get around town, but they are pricy.  Our hotel ended up being outside of the Harbour area, and we couldn’t walk safely because it was along a highway.  So, we ended up taking taxis.  A round trip set us back more than $40!  We later learned that we could get free bus tickets at our hotel’s front desk.  I Heart Rykjavik walks you through how to use the bus in her city.

FOOD

  • Skip Breakfast — At least the one your hotel offers, unless it’s included in your stay.  I wasn’t overly impressed with the food offered at our hotel …. and we paid $30 per person for the meal!  It was a continental breakfast of cereals, breads and muffins, potatoes, and bacon/sausage.  You’re going to save money by either walking to a coffee shop for a pastry or stopping at a grocery store on your way to the place where you’re staying.
  • Grocery StoresThey aren’t all the same … or at least their prices aren’t!  To make the most of your budget you’ll want to stop at Bonus Iceland for the best prices.
  • Book Tours That Include Food — Read the descriptions of the tours you plan to book.  Some offer lunch and some don’t.  If the price isn’t wildly different opt for the one that includes the meal!
  • Consider Staying In — Even drinks are pricy in Iceland.  (We actually paid $25 for a beer at one bar!)  Many Icelanders have a drink or two at home before heading to the bar.  You can too, just don’t buy your beer when you stop at the grocery store.  They offer something called “near beer.”  If you want regular beer or alcohol, pick it up before you leave the airport, or you’ll have to track down a state-run liquor store called a Vinbudin.
  • Ban the bottle — The one thing you won’t need to pay for in Iceland is bottled water.  It’s safe to drink right out of the tap and is some of the cleanest water in the world.  It all comes right from a glacier!

SEEING THE SIGHTS

  • Tours — You don’t have to spend a ton to entertain yourself, at least in Reykjavik.  The majority of the city is very walkable.  City Walk Iceland even offers a “free” 2 hour walking tour around Reykjavik.  I say “free” because your guide will ask for a donation at the end of the tour.  The company does offer other tours, if you’re OK with paying for a longer or different tour.
  • Northern Lights — We didn’t learn until after we arrived in Reykjavik that it’s possible to actually see the Northern Lights without leaving the city.  Granted you have a much better chance to see them if it’s completely dark outside, but people in our hotel  were able to see them as they walked along the oceanfront near Solfar — or the Sun Voyager sculpture.
  • Consider The Pass Reykjavik’s City Pass will set you back $40 a person for a 24 hour card.  (It’s also available for 48 and 72 hours for a better rate) The card will get you in free to museums, swimming pools in Reykjavik, a free ferry ride to ViĆ°ey island and rides on the city bus.  It may also offer discounts at private museums and restaurants.

BONUS TIP

  • Money, money, money — You’re trying to save it, don’t waste it with an exchange rate.  You don’t really need to worry about exchanging money.  Every place we went in Iceland took plastic.  Just make sure the card you want to use doesn’t have an insane foreign transaction fee!
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10 Ways to Save Money in Iceland
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10 Ways to Save Money in Iceland
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Wow! Iceland is expensive! And it's not the price of airfare or hotel that will give you sticker shock. It's the price of food and getting around that will break your budget. Try these 10 tips to save money traveling in Iceland.
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