I'm not entirely sure what to call this. It isn't quite a muffin recipe and isn't quite a cake recipe. But we like it.
2 cups flour
1 tblspn baking powder
1/2 teaspoon salt
1/2 cup sugar
1 egg, slightly beaten
1 1/4 cup milk
1/3 cup oil
about 1/4 to 1/3 cup of chopped walnuts (or pecans)
about 1/4 cup of choc. chips
Mix the first four ingredients. Stir together the 3 wet ingredients, and stir into the flour mixture just enough to wet things down. If it's too dry, add a tablespoon of milk at a time until it's moistened. Then add and mix in the nuts and chips. Don't try to make a smooth batter out of it, lumpy is probably better.
Preheat oven to 375F. Grease a round cake pan, pour in the batter. Bake until a knife inserted in the middle comes out clean which can take between 35 and 45 minutes. Allow to cook a little, then slice and serve like a cake.
This is relatively cheap, not too high in fat or sugar. You can cut costs a little by mixing up powdered milk instead of using fresh, the taste isn't affected here. You can substitute some whole wheat flour for some of the white flour, but you'll need a little more milk if you do. I wouldn't recommend using less than 50% white flour. You can decrease the amount of nuts, but if you go much less than 1/4 cup, it won't have much nut to it.
You can also probably add a brown sugar cinnamon topping or something like that, but it vanishes pretty fast in my house without it.