We have previously developed a cost‐effective chemically defined medium formula for weekend‐free culture of human induced pluripotent stem cells (hiPSCs), costing ∼3% of the price of commercial medium. This medium, which we termed B8, is specifically optimized for robust and fast growth of hiPSCs and for a weekend‐free medium change regimen. We demonstrated that this medium is suitable for reprogramming of somatic cells into hiPSCs and for differentiation into a variety of lineages. Here, we provide a protocol for simple generation of the most cost‐effective variant of this medium, along with a protocol for making Matrigel‐coated plates and culturing, passaging, cryopreserving, and thawing hiPSCs.