Oran O’Kelly will take part in the 2024 Dakar Rally. A fundraiser for his participation in the event takes place in the Helix, Dublin, on Saturday, September 16th when O’Kelly will join Charlie Boorman in a discussion about a life on motorbikes. For more information, check out thehelix.ie.
Are you a saver or a spender?
Definitely a spender! I really believe you are far better off figuring out how to earn more money than trying to save more money.
Do you shop around for better value?
I will always try to find the best way to buy something but at the same time I appreciate it if someone is supplying a product or solution with a very good service. For me, that is ultimately the best value.
What has been your most extravagant purchase and how much did it cost?
My wildest purchase to date would be the competition race bike I will be using for the upcoming Dakar Rally 2024. These Formula 1-level race bikes are priced at just more than €35,000. This has taken me several years to save for and is, unfortunately, probably only one-third of the cost needed to complete the World Championship.
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What purchase have you made that you consider the best value for money?
The best value for my money has been my Alpinestars protective airbag vest I use when racing. They use similar tech to a car airbag and it inflates if I fall off the bike. They cost more than €1,000, but they have definitely saved my life more times than I would like to remember.
How did you prefer to shop during the Covid-19 restrictions – online or local?
It’s local for anything that I can. I feel we need to support local, family-owned businesses and not tech billionaires who have competitive advantages that cannot be met.
Do you haggle over prices?
Always – when I can! I feel there is more often than not a deal that can be done. In the motorsport of Rally-Raid, especially, there are so many different products and consumables we require, so you really have to get creative to make ends meet, whether it is buying in bulk or trading your time for skilled services.
How did the Covid-19 crisis change your spending habits?
I really like to see something physically before I buy it but, with that not being possible during Covid, I found myself trying to fix or modify anything that was not working. I probably learned so much from looking at YouTube videos.
Do you invest in shares?
No. I only like to invest in something that I have a certain level of influence or control over. I try to convince my girlfriend that every bike is an investment!
Cash or card?
Cash is the only way – with card there is no physical transaction.
What was the last thing you bought and was it good value for money?
I replaced my laptop recently. I felt bad about spending what I did on it but then I realised how many years I got out of my last one. When you break something down to cost in use, buying quality really does make sense.
Have you ever successfully saved up for a relatively big purchase?
The biggest purchase I have been saving up for recently was the entry fee for the Dakar Rally – it was a whopping €18,000. I actually qualified to race last year but did not have half the savings or sponsorship that I have worked very hard to achieve for this year.
Have you ever lost money?
All the time on different businesses or deals that have fallen through. I really believe money is only ever truly lost if nothing is learned.
Are you a gambler and, if so, have you ever had a big win?
I think gambling as a whole is a waste of time. I can see why people do it but I believe individuals can find a lot more pleasure and enjoyment in finding a sport or activity they are passionate about. I only like to bet on myself – I’m still waiting to win big on that one!
Is money important to you?
Yes, but only for the experiences it can provide. I believe once you are earning the right money to have a good level of autonomy, you have made it. Money will never buy you more time.
How much money do you have on you now?
I have two crisp €50 notes. I feel the way someone looks after their cash says a lot about them.
In conversation with Tony Clayton-Lea
