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Step 1
Combine the rice and water in an Instant Pot or electric pressure cooker. Stir to evenly coat the rice. Ensure all grains of rice are submerged in water.
Step 2
Put the lid on the pot and close the pressure valve to the sealing position.
Step 3
Using the Manual or Rice button on High Pressure set the pressure cooker for 3 minutes. Depending on the size of your pot it will take 5-10 minutes to come to pressure.
Step 4
When the pressure cooker cooking time is completed let the pot naturally release for 10 minutes (leave the pot as is for 10 minute and do not move the pressure sealing valve or try to remove the lid).
Step 5
After 10 minutes, turn the sealing valve to the release position and release any remaining pressure. When all pressure has been released carefully remove the lid.
Step 6
Stir in 1 1/2 cups milk and sugar. Be sure to scrape to bottom of the pot to ensure no rice sticks.
Step 7
In a small bowl, whisk the eggs with 1/2 cup milk and vanilla. Pour through a fine mesh strainer into the pot (if you do not have a fine mesh strainer simply add the mixture to the pot but be sure to whisk the eggs thoroughly so it does not create lumps when added to the rice).
Step 8
Turn on sauté mode on the pressure cooker and stir continuously until the rice pudding starts to boil and thicken.
Step 9
Once the pudding has thickened to your desired consistency turn the pressure cooker off and remove the pot from the cooker. Note: the pudding will continue to thicken as it cools.
Step 10
Serve warm or pour into a large serving dish or individual ramekins and chill and serve.
Step 11
Optional: Serve topped with cinnamon.