Homemade condensed milk
To make the equivalent of a tin of condensed milk:
1/3 cup hot water
2/3 cup sugar
1 cup powdered milk - this can be full cream or skim milk
3 tablespoons butter
Melt the sugar in the hot water, then put all your ingredients into a food processor or blender. Mix slowly at first until everything is combined, then use high speed until everything is smooth.