Ingredients:

3 tablespoons of butter (for a vegan option, use coconut oil or a vegan butter substitute)
1 cup instant dry milk (or non-dairy milk powder for vegan/lactose-free versions)
2/3 cup sugar (adjust based on your preferred sweetness)
1/3 cup boiling water
Steps:

In a mixing bowl, combine all the ingredients.
Beat the mixture until you achieve a smooth consistency.
Voilà! Your homemade sweetened condensed milk is ready for use in any recipe that requires it.
Storage: If not using immediately, store it in a sealed jar and freeze. It’ll stay good for a few months – simply thaw when you’re ready to use it!