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Rice cooker. Whatever meal you're going to cook, you'll need a starch. Rice is cheap, and you don't need to peel it, but if you cook it on the stovetop you have to keep an eye on it, and I don't know how many pans I've burned over the years. Rice cookers are near fool-proof, plus you can make a bunch of rice in advance and heat it as necessary for whatever meal you're doing. You can get one for under $30.
I like to keep a lot of pre-cooked rice around for fast meals -- you can heat it and throw any leftovers or canned stuff you have on top: chili, beans, meat, veggies. You can always do fried rice in a hurry, or make a quick veggie stirfry and throw it on the rice. It's not high-class cooking, but it's good Bachelor Chow.
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