If you're a baker you've probably noticed that vanilla extract has become more expensive over the past decade. It's one of the most expensive spices in the world, along with saffron. There are a few reasons for this. Vanilla orchids take a few years to mature and produce their first flower, which becomes the fruit or vanilla bean. They bloom only one day each year. Once they're harvested it takes a few more months to cure the beans. Most vanilla beans are sourced from Madagascar where the crops are often under extreme weather conditions that can damage or completely wipe out harvests.

To save money, you can make your own vanilla extract. You'll need vanilla beans and alcohol, and a few months for it to steep before it's ready to use.

The internet says the ratio for homemade vanilla extract is one ounce of vanilla beans (between 5 and 8 beans) and 1 cup (8 ounces) of vodka. I use around 10 vanilla beans for each cup of vodka, but I like my vanilla extract on the dark and deeply flavorful side. I'm also incredibly impatient with the process and don't want to wait many months for it to turn dark. I find it's ready in about two months and as time passes I can add a more alcohol to replenish my supply, along with a few more vanilla beans as needed.

Vanilla beans. The best beans to use for vanilla extract are Grade B (extract-grade) Madagascar Bourbon vanilla beans. I've also used Grade A beans successfully. Grade B beans are on the drier side so they release more flavor without watering down the extract concentration. They're also more affordable than other types.

Alcohol. Vodka is my choice because its neutral flavor doesn't overpower the vanilla flavor. Rum adds a bit of sweetness and tropical flavor to your vanilla extract. Bourbon has a very rich, smokey undertone that works well with vanilla extract used for chocolate recipes and denser baked goods. Whichever you choose, the alcohol needs to be at least 80 proof to successfully extract and preserve the vanilla bean flavor. I wouldn't get a really cheap brand, but mid-tier is fine.

Clean glass bottles. I recommend storing your vanilla extract in dark amber or other tinted glass bottle to reduce aging and loss of flavor from light exposure. Store the bottle in a dark pantry or cabinet, between 65 and 75 degrees Fahrenheit.