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Step 1
Place oats in a strainer and rinse briefly under cold water. Combine the oats and 2 cups cold water in a blender. Start on low speed and quickly increase to high. If using a high-speed blender like a Vitamix, blend for just 30 seconds. In a regular blender, you may need to blend longer, closer to 1 minute. Strain the oat milk twice. I like to use two nut milk bags, one inside the other, and strain it once through the double layer.
Step 2
In a medium-large saucepan, whisk together the oat milk and sugar. Turn on the burner to medium heat, and slowly heat the mixture while whisking frequently. It should take about 5 minutes for the milk to get steamy and hot. Reduce the heat as needed so it doesn't reach a full boil.
Step 3
Once the milk is hot, slightly thickened, and close to a simmer, reduce the heat to low and cook for another 2 ½ to 3 minutes (not longer). It should look glossy and thickened yet still somewhat thin. Turn off the heat, and whisk in the vanilla and salt. Set aside to cool.
Step 4
Option: if you prefer a richer condensed milk, whisk in the vegan butter now. (The batch in the photos did not include vegan butter.)
Step 5
Pour the condensed oat milk into a lidded jar or container, and store in the refrigerator for up to 6 days or freezer for up to 2 months.