Tips to travel Iceland on a budget, plus travel expert-approved gear

Need some summer vacation ideas that won't break the bank? "Good Morning America" is off to Iceland and packing expert tips to help create the perfect travel bucket list on a budget.

From free dips in hot springs to the stunning Seljalandsfoss waterfall, ABC News' Ashan Singh explored the Nordic island nation and shared the top ways to enjoy every stop of the trip without overspending.

"Iceland is a tremendous deal from the Boston area in particular -- flights are only about five hours in each direction -- you could take just a long weekend there and still get an action-packed trip," Eric Rosen director of travel content for The Points Guy, told "GMA."

TPG has seen deals for as low as $400 and for travelers who don't care where they're seated on the plane, some fares drop as low as $230.

When it comes to hotels, Rosen offered another simple tip, spend now on credit cards from brands like Hilton or Marriott that, once the spending threshold is reached, offer large bonus points.

"Hilton cards for instance, offer anywhere from 130 to 180,000 points typically as part of their bonus," he said. "And that's going to be good enough for two maybe even three nights at some of these hotels in Reykjavik. And that could be your whole trip right there."

Iceland activities on a budget

Get a taste of the city's culture with the Reykjavík City Card, which gives visitors access to multiple museums, art galleries, pools and even bus transportation for free.

Enjoy going home with a fashionable souvenir? Local knits are quintessentially Iceland, but with handmade sweaters priced up to $500, Singh sought out second hand store, Extraloppan to score a sweater as low as $50.

Rent a car. Singh found deals for as low as $86 a day.

Save on a more extravagant meal by finding a deal through the Dineout Iceland app, which for a small fee offers discounts all over the land of fire and ice.

Looking for a cheap and quick local bite? Try a roadside hot dog for just $4.

Visit the free National Parks and take in sights like waterfalls and geysers, but Singh suggests skipping the Blue Lagoon, which can cost $350 for a family of four, instead opt for taking a dip in a local, free hot spring.

Expert recommended travel gear