I like saving money. In fact, in my other life, I would like to have started a blog on financial matters, saving money, and making money. Problem is, it’s already been done–a lot–and I’m not always the best at taking the advice I would be giving 
But, I do read a lot of personal finance blogs (you can see my favorites in the Links section). Sometimes, they even post a foodie Gem, like Jonathan did on “My Money Blog” with his review of his new Cast Iron Skillet. He pointed out that he received a really nice set of anodized, non-stick cookware when he got married (as did I), but after years of misuse they were non-stick(y). So, he purchased a 12 inch cast iron skillet from Amazon and hasn’t looked back.
Cast iron pieces make very economical additions to your cooking tool arsenal. You can usually find these pieces for relatively little money (Jonathan’s was only $15), they are sturdy, cook better than many other bargain pieces, and will last a lifetime. If you are just starting out, I would almost recommend cast iron over a cheap cook set simply for these reasons. And, you can outfit yourself with just some basics for $52 (the skillet Jonathan bought, a 5 quart dutch oven, and a small griddle–thin things you have to flip, like eggs and pancakes, work better in a griddle).
I have to admit, I only have two pieces of cast-iron cookware in my cooking tool arsenal, but they are often put to (reasonably) good use. I have a small (8 inch) skillet and a griddle/grill-pan. Usually, I use the skillet for corn bread and I make a mean flank-steak with the griddle. Both these items were spared from the “non-essential” designation in our recent move/downsizing, and are permanent fixtures in my woefully small kitchen. And, with the benefits emphasized in the article Jonathan cites, they might make a good investment and replacement for my really nice set of anodized, non-stick cookware, which have their own special holder in the cabinet to prevent damage to the non-stick surface.
I have only three criticisms that keep me from ditching my non-stick for cast-iron completely (and, I’m lumping my beautiful Le Creuset cast iron/enamel dutch oven in the category).
First, they are big and heavy. I love the lightness of my Calphalon, and how I can easily lift, toss, and transport my cookware with one hand.
Second, even when properly seasoned, a cast-iron piece cannot compete with my Calphalon in total non-stick-ness. I don’t like doing dishes, despite my love for food, so I’d rather just wipe out my pans with hot, soapy water, than scrub with my nylon sponge.
Finally, cast iron requires a little more maintenance–when you wash it, you have to ensure it’s dry before you store it, or else it will start to rust (this isn’t stainless steal). Usually, you put a very thin coat of oil on the cooking surface to keep this from happening, and that adds to your clean-up time.
I definitely don’t think these reasons should keep someone from using cast iron in his/her cooking arsenal, but for many people, I would suspect that they will be a supplement, rather than a total replacement, for modern cookware (though, see my note above, about cast iron versus cheap cookware). Still, it’s hard to argue with a perfectly seared steak, or the unique flavor and crispness fried chicken has, when coming from cast iron. Sometimes, the most traditional tools are still the best!
Good for people to know.