Iceland Part 2: Budget

As promised here is my Iceland Budget!

I ended up finding it a lot easier to budget for Iceland than I had thought! I colour coded everything so that anything highlighted in RED was where we came over budget, and anything in GREEN is under budget. Items I didn't highlight are because we had paid them previously so their cost didn't change. Places that I surprisingly came in under budget were eating out in Reykjavik, EVERYONE told me we hadn't budgeted enough but with some planning and research we found a restaurant that had good food and fair prices. Places we came in over budget were lunches, I had expected to buy more groceries and pack lunches instead of buying them but usually at night we would stay up late drinking so we wouldn't meal prep and then in the morning we would be up early and tired and didn't really think of it. We did pack peanut butter sandwiches one day but because we were out all day we still stopped for snacks! You could definitely do Iceland cheaper if you really committed to groceries and cooking at your hostel, AirBnB or hotel. Our grocery number is a bit lower than expected because as a group we went shopping for dinner, snacks, and breakfast items and then just divided everything up! I didn't budget anything under miscellaneous because I really wasn't sure what we might buy, maybe we would need extra socks, or souvenirs, and I foolishly forgot to put in an alcohol budget prior to leaving, so all our alcohol was put under the miscellaneous category. In the end, we came in JUST under budget!

I know that some people will consider 2500$ for 4 nights/4 days to be a lot of money to spend on vacation, however the 2500$ includes airfare and accommodation for two people. It was also a once in a lifetime opportunity to be able to travel with friends and my fiance and make memories that last a life time.

Approximate Cost
Actual Cost
765$ for two flights, Toronto to Reykjavik
230$ for two people, for two nights in Reykjavik

400$ for two people for three nights in Hella

Car Rental
310$ for two people for 4 days 

100$ gas for two people for 4 days*



40$ entry cost to the phallic museum of Reykjavik*
9.43$ Kerid Crater
Dinner on Jan 4th
200$ for two people including drinks, tip and tax
14.16$ Coffee
16.39$ Hot Dogs
102.83$ Frederiksen Ale House
20.29$ Water, chips, snacks
11.08$ hot dogs
Lunches Jan 5-8th
100$ for lunches for two people, assuming we don’t pack a lunch and we are out touring around*
28.83$ breakfast Reykjavik
9.59$ Sandwich at grocery store
8.25$ Hot Chocolate
22.41$ Breakfast Sandwhich
10.69$ eggs milk etc
21.95$ Frederiksen Ale House
5.69$ hot dog
75$ for two people for 3 dinners
29.13$ dinner groceries
18.26$ dinner groceries
Blue Lagoon
230$ two tickets
Hot Springs
50$ for two people*
0$ we didn't end up going to a second hot springs.
43.50$ duty free booze
40.45$ booze at the liquor store

***all of the numbers here are in Canadian Dollars and are for two people***

Coming up, I'll be focusing the blog more on just how to budget in general and how to save for trips!

If you've got any questions leave them in the comments! And don't forget to follow on Instagram @thenomadicbee

Enjoy some more photos of Iceland because it was honestly one of the prettiest countries I've ever been too!

The Yule Cat, a terrifying Christmas folk story, definitely give it a google!

I might come from the City of Waterfalls aka Hamilton but this was pretty amazing!

If you can't tell from the amount of photos I've posted...Diamond Beach was my favourite!

Nick in his "ice throne"

Just the colours of the ice were so dreamy

I took this photo while my friend was driving, it was our last sunset in Iceland

From the passenger seat of the car, driving back to our AirBnB on our last night, we got the most beautiful sunset!


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