My Free Iced Coffee Would Cost Me $3.98
Today is Free Iced Coffee Day at Dunkin Donuts. If you will be near or pass by a Dunkin Donuts today, by all means, stop in and get a free iced coffee! The offer is good until 10pm tonight, so make sure to take advantage of it if it will incur no hidden costs for you.
And what do I mean by hidden costs? Well, I searched on the Dunkin Donuts website to see if there is a location near me. On the East Coast where I grew up it seemed there was a DD on every corner, but in my experience, they are much less prevalent in the Midwest. I theorize it has something to do with Krispy Kreme. But, anyway. I was really excited to actually have a search result come up, and see that there was one located in my city. Hurrah!
On the other side of my city. 17 miles away. One way. Most of it highway driving but still, my car only gets about 30 miles to the gallon. So a 34 mile round trip drive to get a “free” iced coffee would cost me at least a gallon of gas, which at current prices here is just shy of $4. It would be less expensive for me to just go to the Starbucks less than a mile from me and pay for an iced coffee there I bet. And besides, I have a $5 Starbucks gift card.
This of course is not at all the fault of Dunkin Donuts, and I hope many people can easily take advantage of their free promotion. But not me. I’ll be making some iced coffee at home from my spouse’s leftovers I put in the refrigerator when I got up this morning. And pretending it was from Dunkin Donuts. 
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May 15th, 2008 at 4:27 pm
Way to evaluate the costs. My first thought was “is there one near us?” Not close enough to walk. Second thought “What about the place I’m going tonight? I could pick one up after.” But that’s a mile away and I’d have to walk both ways. Which would be good for exercise, but I’m not comfortable taking an almost hourish walk in an unfamiliar place after dark. If it was closer, I’d totally be going.
May 15th, 2008 at 4:35 pm
I followed that same train of thought when I calculated the cost of going out for lunch in a recent post. It makes a lot of sense to look at things like that now-a-days, especially considering the cost of gasoline.
Like you, there are no DDs around here - only Krispy Kreme. Besides, I prefer my own brand of iced coffee:
* 1 tall glass (full of ice)
* 1/4 glass skim milk
* 3/4 glass double (or triple)-strength coffee
Total cost: Way less than what you’ll spend anywhere else!
May 15th, 2008 at 4:46 pm
You put more thought into the terms of the “free coffee” offer than many FBs did into their mortgage contracts. That’s really sad (for them).
Enjoy your homemade iced coffee…yummy!
May 15th, 2008 at 4:48 pm
I heard about this from someone today but wasn’t sure if it was at all dunkin donuts, so we passed up on it on the basis of going back to that particular DD would cost more in gas than buying one. But now that I know it’s everywhere, and there are 2 down the street from me…
May 15th, 2008 at 6:30 pm
Just goes to show that nothing is truly FREE. There are usually hidden costs associated with EVEVRYTHING. I am sure that DD is banking on the fact that many will stop in for their free Iced coffee and at the same time pick up a dozen doughnuts (or at least one or 2! The point is to get you in the door). Here is another example (which makes me go grrrrrrr) about hidden costs. This one really gets to me; my Mastercard/Debit card allows me to earn points with each $ I spend (similar to many rewards programs, I am sure). Each time I swipe my debit card but use it as “credit” (the money is coming right out of my account, but I do not enter my PIN- don’t get the difference, but oh well) I get a point for each $ I spend. Of course, you have to accumulate a ridiculous # of points to get a reward. I am currently about 1,000 points short of a $25.00 deposit into my savings account. Last time I had to reach 12,000 points (Yes, 12,000!) to earn a “free” $25.00 BP gas gift card. But here’s the part that is just…well….soooooo grrrrrrrrr- there is a 5.00 “redemption” fee to claim your reward. SO- yes, they are giving me a $25.00 deposit into my account, BUT I have to pay $5.00 to get it AND it takes MONTHS to accumulate the points. See? Nothing is truly free? Granted, it IS twenty bucks in the long run, but you have to PAY fot your prize! What do you think of this?
May 15th, 2008 at 7:23 pm
Oh, and one more gem…(not to be so negative, but I am interested to hear what others think about this stuff)….IN-BOX Dollars. I have FINALLY reached the $30.00 mark to claim my payment- a check. You cannot request payment until you reach the $30.00 level. It has taken me since early Feb. taking online surveys, clicking and reading paid e-mails (at .4 cents each) and making several purchases (such as stamps and an entertainment book) to earn $30.00 in my inbox account and request payment. So- I was all excited to finally be getting my money. WRONG! I have to wait until JULY 1 for my check to be mailed AND, by the way, if your account becomes inactive (if you cancel your account after requesting payment) it automatically cancels your request for payment- BRILLIANT. In-box knows that you have spent several months accumulating $ in your account and are finally waiting for your check but you must keep it open to get your $. NOTHING in this life is free. There is a price for EVERYTHING. OH, and - they charge you $3.00 to claim your prize- so it is really just a $27.00 check. Is it worth it? Not sure….but heck if I am going to cancel it now before I get my check!
May 15th, 2008 at 10:38 pm
Great to see you putting so much thought into this. I find myself thinking similarly often. Of course, there are other costs associated with operating your car over and above just gas. The IRS figures it costs you about 52 cents for every mile you operate your car (for business reimbursement purposes), which includes car payment, insurance, gas, wear and tear, oil changes, other maintenance, etc. Of course you could argue that things like insurance are fixed expenses and don’t really count….but I digress.
Overcoming Overspending: you have a really bad credit/debit rewards setup. If I read your post correctly, you get a $25 gift card (which is not as good as cash) for spending $12,000 (or 12,000 points), for a return of about two-tenths (2/10) of 1 percent, not counting your “redemption fee.” I think the standard is usually 1%, with some offering a little more in certain categories or on certain items. For instance, I have a Chase Freedom card that pays 1% on everything, plus 3% on certain items, with no “redemption fee.” I would ditch the debit card for everything buy ATM withdrawals and find a good credit card.
-Lo. Price
loprice.blogspot.com
May 19th, 2008 at 12:45 pm
I took advantage of this offer (and a free-with-purchase-of-drink offer that McDonalds had) last Thursday but only because I was driving right by a DD anyway. If I had to drive out of my way, I wouldn’t have considered it free. I also didn’t cave to the temptation (and slight guilt) of buying something since I was there.