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Step 1
In the bowl of a stand mixer fitted with the paddle attachment, mix the cheddar, butter, and salt until soft and homogenous.
Step 2
Add the flour and mix on low speed; the dough will be dry and pebbly.
Step 3
Slowly add the water and continue to mix as the dough coalesces into a mass.
Step 4
Pat the dough into a disk, wrap tightly with plastic wrap, and refrigerate for at least 1 hour.
Step 5
Preheat the oven to 375 degrees F. Line two baking sheets with parchment paper or silicone mats.
Step 6
Divide the dough into two pieces and roll each into a very thin (1/8 inch or less) 10x12-inch rectangle.
Step 7
Using a fluted pastry cutter, cut the rectangles into 1-inch squares, then transfer to the baking sheets.
Step 8
Use the tip of a chopstick to punch a hole into the center of each square.
Step 9
Bake for about 15 minutes or until the crackers are puffed and browning at the edges. Watch carefully, as the high fat content of the crackers makes it a fine line between golden delicious and burnt.
Step 10
Immediately move the crackers to racks to cool.