'I use culinary knowledge to reduce food bills'

TV personality says he hasn't used credit cards for 20 years.

Osama El-Sayed, host of It's More Delicious with Osama, has invented the 'Credit Crunch Lunch'.

Cooking is and always will be a hobby for me. Luckily my passion for food, cooking and anything culinary has manifested into a sustainable career with a decent income, allowing me to continue to combine my life and career into something I love - working with food. At 50, I am pleased with the direction my career has taken, especially after my move to the UAE almost four years ago. My live cooking show, Ma Osama Atyab, which means It's more Delicious with Osama, airs daily to millions of viewers on Dubai TV and is going from strength to strength as it develops and grows. Although I have produced my own cookery shows via satellite TV in the US since 1991, my venture with Dubai TV gives me an opportunity to interact directly with my audience and to further my passion for great food.

I was born in 1956 in Cairo, Egypt, and although my mother had a huge influence on nurturing my passion for food, it was my father who taught me to understand the meaning of money. After his death, when I was 11, I realised that he never really cared that much for money and he always viewed it as more of a necessity rather than life's ultimate goal. This ethos has stayed with me throughout my life, and although my career has led to a financially comfortable life, I truly believe that money is just a facilitator and shouldn't be treated as a false god.

EL Sage Associates, my culinary consultancy firm operating out of the US, has been serving the international culinary industry since 1988 and now has operations through the world including catering and publishing. Having my own business has taught me how to manage my money in both a business sense and on a personal level. For example, having an accountant to take care of my company taxes has been a huge eye-opener and guides me through my finances as well.

As a chef, I try and use my culinary knowledge to reduce my personal food bills. The UAE can be very expensive, and whether you prefer to eat in or dine out it helps to keep a strict eye on how much you spend. My best advice for shopping is to buy seasonal, local produce sold at competitive prices rather than premium products imported from the other side of the world. Always look for the sales isle in your local supermarket, as there are plenty of bulk items that come at bargain price.

As part of my the development of my TV show I need to keep abreast of all the latest culinary developments, and although I love dining out two or three times a week I always try to keep an eye on the price tag. If I am going out for a treat or a special occasion, the best way to keep your food bill from spiralling is to study the menu with care. Don't always rely on the most expensive dish to be the best choice, as you are likely to find that something half the price is just as appetising.

In the light of the economic situation I have come up with the "Credit Crunch Lunch", an easy way to ease the burden on the wallet. As long as you store your food properly you can use your leftovers to create a tasty lunch. Another fantastic way to stop overspending on unnecessary items is to always keep a small piece of paper attached to the fridge which allows you to keep an inventory of everything you need to replace when you go shopping.

The biggest pitfall in my finances has been the mismanagement of credit cards in my younger years. As a result I haven't had a credit card for over 20 years, as I prefer not to take the risk of getting into any more unnecessary debt. My philosophy is that if I can't afford to pay for something I don't really need it anyway. My career and my children's education is my biggest investment. Adam, 23, and Omar, 21, are both studying at George Mason University in Virginia, and Sarah, who is still in high school, all require my financial support. My monthly savings are very much dependent on my day-to-day situation, as something requiring an unexpected financial injection seems to crop up on a daily basis.

I do, however, have a 401k retirement plan in the US, which is a company sponsored tax-deductible retirement fund, but with the crisis in the world's financial sector, I have seen my fund reduced to a mere third of what it was a few years ago. These days I tend to view the increasing cost of living as more of a personal challenge than an impediment. My main concern as a professional is that I maintain a high standard of quality with my cooking at all times, and I truly believe that if you concentrate on putting your pennies in the right direction and always think carefully before you spend, you can make the necessary savings. * As told to Inga Stevens