I wanted tons of features in a recipe book, none of which I could find in store bought books, so I made my own. Here were my requirements:
1. didn't take up space on my counter while I was using it
2. was splash-proof in case I spilled ingredients on it
3. I could look at quickly and easily and not have to turn any pages to read the recipe and ingredients
4. I could easily add more recipes to and re-organize and add categories when I wanted to

Step 1: Supplies

My cookbook fulfills all these requirements. Here's what you'll need:
-a 3 ring binder
-plastic sheet protectors
-paper
-a magnetic chip clip
-either markers/pens/pencils or a computer and printer
-a metal fume hood over your stove that magnets will stick to
-organizer divider tabs for 3 ring binders

Step 2: Fill Your Book Up

I quickly filled my book up with my favorite recipes I had been collecting on my computer and in Google documents. It was easy to print them out. I even added stars to some of them so I could easily remember how much I enjoyed a particular recipe.

I also have recipes in here that I found in old magazines. Instead of taking the time to write the recipe out, I just tore the page out of the magazine and added it to my book.

Have handwritten recipes from your mother or grandmother? Back them with pretty scrapbook paper and protect them by adding them to your new book.

Step 3: Decorate

I follow a paleo / primal / ancestral diet so I decided to decorate my book with that theme. The cover has a really awesome looking warrior girl sitting on a horse, and the side says "eat like a caveman, live like a warrior"

Step 4: Get Cooking

Now, you can pull a recipe out of your book, put the book back on the shelf, and have your directions and ingredients easy to see and read, protected from the hazards of cooking