Preheat the Oven: Begin by heating your oven to 350°F.
Prepare the Bread and Raisins: In a large bowl, combine the cubed white bread and raisins.
Prepare the Milk Mixture: In a 1-quart saucepan, combine 2 cups of milk and 1/4 cup of butter. Cook over medium heat until the butter is melted (usually takes 4 to 7 minutes).
Combine Ingredients: Pour the warm milk mixture over the bread and raisins. Allow it to stand for 10 minutes.
Add Remaining Pudding Ingredients: After the 10 minutes, stir in all the remaining pudding ingredients, including 1/2 cup of sugar, 2 slightly beaten eggs, 1 tablespoon of vanilla, and 1/2 teaspoon of ground nutmeg.
Bake the Pudding: Pour the mixture into a greased 1 1/2-quart casserole dish. Bake for 40 to 50 minutes or until the pudding is set in the center.