Question about Vanilla...

[lotus_n_my_hair]

Ok- I am making rice pudding and the recipe calls for one split vanilla bean...I went to quite a few grocers and was pretty shocked by the price (the cheapest I could find was $7 for two vanilla beans and the priciest was $15 for just one...)...I pretty much do not wish to spend THAT much.

With that said, would natural vanilla extract be a good substitute for vanilla beans? And if so, how much should I put in the pudding mixture?

Thanks in advance!