Are you a saver or a spender?
A saver, but not by design. I spent long periods in remote locations offshore and in deserts such as the “Empty Quarter” of Saudi Arabia and Oman. You can’t help but save when you’re in an environment like that.
What was the first job you ever received money for, and how much were you paid?
My first job was as a hospital porter in the South Infirmary in Cork city. My aunt got me the job. I think I was paid £6 an hour to wheel patients up and down to the theatre. I wasn’t the greatest at steering the trolleys; there were a few bumps here and there. The great camaraderie among the hospital staff was my first lesson in teamwork.
Do you shop around for better value?
No. I’m an insurance company’s dream customer. I’ve been with the same insurance company for the last number of years. If something works well, why change? I recently changed broadband and TV supplier to save a few quid and wish I hadn’t.
What has been your most extravagant purchase ever and how much did it cost?
We’ve had great holidays over the years, and stayed in good hotels while we’ve seen a lot of the world. I like my comfort. I wouldn’t dream of counting the cost of it as the experience far outweighs the cost. I mean, I don’t know anyone who goes to Lake Issyk Kul in Kyrgyzstan on holidays!
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What purchase have you made that you consider the best value for money?
Any travel that I have done has always been more satisfying than any material item. Broadens the mind, sharpens the palate and shapes your understanding of the world. Friendships and networks across the globe are the most valuable assets you can have.
[ Eleanor McEvoy: ‘In the crash I lost most of my pension’Opens in new window ]
Is there anything you regret spending money on?
Power tools I never use. There’s a middle aisle in a certain store that I can’t seem to walk past without picking up a tool that will never see the light of day.
Do you haggle over prices?
In business, yes, I will always try to achieve the best possible margin or query the scope of a service provided. In private life, not so much. Haggling to me was always something done on holiday in a market or a souk. I like asking for discounts or receiving token gestures of gifts with a purchase to sweeten the deal.
Do you invest in shares and/or cryptocurrency?
Every oil and gas man has a crypto story of the should-have/could-have variety. I knew about Bitcoin in 2012 and did nothing. I was told about Ethereum in 2015 and did nothing. Nobody knew much about crypto back then, but for those who took the plunge, it certainly paid off. You can get lucky once, but there is no overnight success.
Do you have a retirement or pension plan?
Building a brand in Republic of Oud that is successful enough to attract a buyer down the road.
[ Don Wycherley: ‘Eircom put me off investing in shares for life’Opens in new window ]
What was the last thing you bought and was it good value for money?
It’s not the last thing I bought, but I have a Mercedes E200 from 2008 that is still going and doesn’t owe me a penny. I like the quality and reliability, and I hope to have it for many years to come.
Have you ever successfully saved up for a relatively big purchase?
I bought my first property in 2005 with savings for a deposit from an apprenticeship in the electrical and instrumentation trade. There’s a lot to be said for apprenticeships. It opens many doors and gives you a backbone that college life never could.
Have you ever lost money?
Nothing to write home about. That said, advice about shares while sitting in a tea shack on some rig in the North Sea didn’t pan out. Oil men have the most interesting “almost and nearly” stories of any profession I know.
Are you a gambler, and if so, have you ever had a big win?
I once had a stake in a racehorse called Wee Frankie. I shared a cabin offshore in the Caspian Sea with the majority stakeholder, and he pestered me every night until I bought in.
He won his first two races and enjoyed a day out at Musselburgh Racecourse, East Lothian, in the owners’ and trainers’ circle before he was sold for a tidy sum. I never went back into the horses after that. With the new syndicate, poor Wee Frankie fell over jumps in his first race and died.
What is your best habit when it comes to money?
The best is that I generally don’t use the visa card, so if money isn’t in the bank, I don’t spend it. The worst? I own too many fragrances. I can never seem to finish a bottle before buying a new one.
How much money do you have on you now?
Like most people, very little since Covid. The phone is your wallet these days.
In conversation with Tony Clayton-Lea
