Budget Saver: Homemade Chocolate Syrup recipe

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In my house, chocolate milk is a staple. Ethan drinks this every day.

With the tightening of our budget, I have had to make some grocery shopping changes.
While in the past I have purchased the store brand of chocolate milk powder, like Nestle Quick. In attempts to save money, I have been experimenting with making chocolate syrups with which I can make chocolate milk.

I am pleased to say I have found a worthwhile recipe for chocolate syrup.
It's from Tasty Kitchen, a recipe site maintained by Ree Drummond, the Pioneer Woman.

Chocolate Syrup
2 c. sugar
1 c. cocoa powder
1 tsp. salt
1 1/2 c. milk
1 1/2 tsp. vanilla
Mix first 4 ingredients. Simmer on low heat 10 minutes. Remove from heat. Add vanilla; stir until combined.
Allow to cool to room temperature. Store in the refrigerator.

For hot chocolate: Add 1 Tbs. syrup to 1 c. of hot milk. Stir until combined.
Chocolate milk: Add 1 Tbs. syrup to 1 c. milk. Stir until combined.