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Step 1
Add peaches (about 1-inch chunks), lemon juice, and honey to the Instant Pot. Set the valve to "sealing." Start the pressure cooker in manual mode for 1 minute at high pressure. Release pressure naturally. Carefully open the lid using an oven mitt or pot holder.
Step 2
Switch to sauté mode and set to “less.” Stirring occasionally, saute about 15 minutes or until most of the liquid has evaporated and the jam has thickened.
Step 3
Turn off the IP. Stir in the vanilla extract. Now you can use an immersion blender for a smoother consistency or leave it chunky for a more rustic feel.
Step 4
Store the jam in jars (see size note below) and refrigerate for a week.