Rachael Ray: Rachael's Daytime Talkshow

Value $quad: Budget Cooking Tips

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"Nothing goes to waste in my kitchen," says Michael Schulson of the restaurant Izakaya at the Borgata Hotel in Atlantic City, as he shares some of his favorite tips. "You're going to stretch a buck. Don't throw anything in the garbage."

• Watermelon and Pineapple Garnish -- Chop up watermelon rinds and pineapple cores into nice cubes. Boil two cups of vinegar and one cup of sugar. Mix the fruit with the liquid and then drain to make a colorful garnish for a salad. "It's sweet, it's tart, it's crunchy," says Michael. "It's delicious!"

• Roasted Red Pepper Pasta Sauce -- The next time you buy roasted red peppers in a can, save the leftover oil in a jar. "It is a delicious enhancer of flavor," Michael explains. He suggests preparing spaghetti and adding tomatoes and chopped chives before spooning on the oil remaining from your red pepper jar. "You don't have to spend hours ... people think you slaved away."

• London Broil Kabobs -- Watch the video above to see how Michael makes London Broil taste like a filet, and then get even more value by serving kabobs.

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