Luke Thomas is the chef behind Dubai diner Retro Feasts on The Beach, Jumeirah Beach Residence, inspired by dishes he cooked as a child with his grandmother. From North Wales, Luke starred in the British TV series Britain's Youngest Head Chef and runs a restaurant in northern England, as well as Retro Feasts with Dubai business partners. The 23-year-old was in Dubai to launch a BBQ night and a new menu.
How did your upbringing shape your attitude towards money?
Mum and dad had really normal jobs and one reason I spent so much time in the kitchen was because we never had an Xbox. You made your own fun. It made me incredibly careful and taught me see the value of money. Mum taught me to save and never just spend what came. It was a good foundation.
How much did you get paid for your first job?
I worked for free, just to get experience, but I used to get tips because they’d feel guilty. Sometimes I’d help at an event and they’d look after you, paying £6 (Dh27) an hour. It was the best possible education.
Are you a spender or saver?
A bit of both. I save, but I like to live every day as if it’s my last. I spend money on experiences; on travel, going to new places, exploring new foods.
What is your most cherished purchase?
The Japanese knife I bought when I was 15 at the Good Food Show in Birmingham. I’d saved up tips. Whenever I do a cookery show I take one knife and it is the Kin. It’s still like a razor blade today.
Have you ever had a month where you feared you could not pay the bills?
No, because I’m careful. I always work backwards, I look at what has to be done and take it from there.
Where do you save?
A simple savings account. I’m not good with technology, so I’m not good on mobile banking. It’s safe in a savings account. It’s earning zero interest, but it’s there.
Do you prefer paying by credit card or in cash?
Credit card, but I pay it off every month on a direct debit and collect the air miles.
What has been your best investment?
In people. You can create the best dish, but without great people around to help you make it happen … I’m just here to endorse. You have to spend it to make it in the world of restaurants. You have to be fresh and relevant and come up with cool marketing ideas and it costs money. You need creative people to come and inject sparkle. Also that free time I gave to those kitchens … your biggest investment is in yourself and time, to really learn your craft.
What do you most regret spending money on?
I’ve not earned enough to make any stupid decisions. I don’t buy much, but if I do I’ll normally go to the shop, look at something, spend about hour and think “probably not” and then go back in a couple of weeks as it’s about to go out of stock.
What financial advice would you offer your younger self?
Be extremely careful and realise the value of a pound. Also I’d say don’t get too sucked into being too work focused because you’ll become miserable. You need to get up every day and look forward to what you do. Enjoy yourself and spend money on experiencing great things because it inspires your work.
Do you have a plan for the future?
Opening a restaurant in London would be really fun; having complete creative control to create the culture I’ve always aspired to have in my own business, a fun company for people to come and work for and to give people opportunity.
If you won Dh1 million, what would you do with it?
I’d put it into the restaurant in London.
What would you raid your savings account for?
Experiences. If someone offers me a great opportunity to travel somewhere amazing, I pretty much always say “yes”. Every year I do a charity bike ride.
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