I know, I know, this food has various names that aren't very complementary. Don't let that stop you from enjoying a fast, filling & cheap meal direct from your pantry.
Basically, all you have to do is make a nice cream sauce and add a couple packages of Dried Beef. Make up some toast to pour it over and you have a meal.
First slice up 2 Jars of dried beef (I've used Armour brand 2.25 oz jar) into strips, rinse it off with cool water in a colander. Set aside. I do this to get rid of some of the extra salt.
Make a roux. 3 TBSP Butter or oil + 3 TBSP Flour. Couple dashes of pepper if desired. Combine in a saucepan (I use a cast iron skillet) Cook over medium heat: stirring constantly with a whisk until the butter melts, the flour bubbles up and gets frothy. You want to cook the raw taste out of the flour. Don't let this brown!
Add 1 can evaporated milk (such as PET or Carnation) and 1 can water (or 2 1/2 cups fresh Milk)
Stir constantly, with a whisk, until thickened and bubbly. If sauce is too thick, add a couple tablespoons of milk or water. Add the meat and heat through. Serve ladled over hot toast.