How to Save Money in Iceland

Iceland is notoriously expensive, but with the right strategy, it doesn’t have to break the bank. From campervan rentals to grocery shopping hacks, here is a transparent breakdown of what to expect and how to save money without cutting the trip short.

What it actually cost me: the itemised 14-day total — van, fuel, food, campsites and every tour — is in my Ring Road cost breakdown.

#1 Accommodation & Transport

Your campervan is your biggest investment but also your biggest saver. It combines transport and housing. Booking early matters more than any other single decision here: summer vans sell out, and what is left is priced accordingly

#2 Fuel & Driving

Gas prices are high. Budget for significant fuel costs, especially if you plan to conquer the Ring Road. Pro Tip: Use discount tokens provided by your rental company at specific gas stations.

#3 Food & Dining

Eating out is a luxury. A burger and a drink at a casual place runs about 2,500–3,500 ISK. Shopping at discount supermarkets like Bónus or Krónan and cooking in your van will be your primary budget-saver.

#4 Drink Tap Water

Never buy bottled water. Icelandic tap water is world-class and free. Bring a reusable bottle.

#5 Free Hot Springs

Skip the expensive Blue Lagoon. Iceland is dotted with natural hot rivers and local swimming pools that cost a fraction of a lagoon ticket.

#6 VAT Refunds

Keep your receipts! For purchases of 12,000 ISK or more on a single receipt, you can claim a tax refund at the airport before you fly home.

What 14 Days Actually Cost Me

There is one set of numbers on this site, and it is in the full 14-day breakdown: van, campsites, fuel, food, guided tours and parking, line by line, in euros. Flights are not in there either, because they depend entirely on where you fly from.