Here is a list I found online one day and it has been very helpful in my kitchen. If you have anything you could add to it let me know!
1. Sour Cream
Simply mix 1/3 c dry milk with 3/4 c. plain yogurt to replace sour cream. This works great for low-fat dips.
If you’re planning to bake with it, add 1 t. cornstarch to stabilize the yogurt.
2. Regular Milk
Whenever a recipe calls for regular milk, you may instead substitute 1/3 c. of dry milk in with the dry ingredients and 1 c. water in with the wet ingredients.
3. Evaporated Milk
Mix 1/3 c dry milk with 1/2 c. water. This replaces a small (5 oz) can of evaporated milk.
I never buy evaporated milk any more…I always use this “recipe”.
4. Sweetened Condensed Milk
Mix 1/3 c. dry milk with 1/2 c. cold water. Microwave until hot and steamy. Then add 1/2 c. sugar. Let stand in refrigerator for 4 hours. This replaces a 13 oz can.
{I know this seems time consuming, but it does work!}
5. White Sauce
Mix 1/3 c. dry milk, 3 t. melted butter and 3 T. flour to form a paste. Slowly add 1 c. water or milk and whisk until smooth.
You may add onions, cheese, mushrooms, or any other flavorings you like and serve over pasta.
6. Hot Chocolate Mix
Mix one 24 oz box of dry milk with 1 c. non-dairy creamer, 2 c. powdered sugar, and one 16 oz. container instant chocolate drink mix and store in a large, tightly sealed container.
Then mix about 1/2 cup with 1 c. boiling water for delicious hot chocolate. I often give this as gifts for Christmas!
7. I use powder milk in all my recipes that call for milk.
Taken from http://www.simpleorganizedliving.com this is a great list of ways to use dry milk and save money as well.