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It can be tough to tour Iceland on a budget -- but overall, the best strategy for finding great deals is to travel during winter. To save on accommodations, look for guest houses and farmstays, which offer low-priced lodging as well as a unique way to experience local culture. (You can find a list of farm accommodations in Iceland at www.farmholidays.is). Icelandair regularly offers affordable vacation packages, which bundle hotel and airfare, for a reasonable price.