1 Loaf day old white bread cubed
1 1/4 cups water
1 cup dark brown sugar
6 tablespoons butter or margarine
1 cup raisins
1  cup unsalted peanuts
1/2 cup mild cheddar cheese, shredded.

If bread is fresh, toast before cutting into cubes. Heat water in a saucepan, add sugar and butter; stir until dissolved. Add bread pieces to liquid and soak completely.  Add raisins, peanuts and cheese.  Pour into a buttered 8 X 8 pan and cover.  Bake at 325 degrees for 15 minutes.  Remove from oven and cool.