This is how my mom makes stew:

You need:
1 to 1.5lb stew meat (a nice slightly marbled beef works well), cubed
1/2 package baby carrots, halved or in thirds; or ~1/4-1/2 package frozen carrots
4 cups cubed, peeled potatoes (yellow potatos recommended)
1 smallest size can of tomato sauce
A few tablespoons of dried onion
A few shakes of tabasco sauce (optional)
1 bay leaf
Salt to taste
Pepper, if not using tabasco

1 Large Pot w/Lid

Instructions:
Spray bottom of pot with pan spray and place over medium high heat. Sear or brown the stew meat, but do not overcook. Add 2 drinking glasses of water, tomato sauce, salt, onions, and bay leaf. Bring to boil then reduce to simmer and cover over low heat. Simmer, covered, for roughly an hour. Add the carrots and let simmer, covered, for about the time it takes to peel and cut up the potatoes. Add potatoes and any water needed to cover. Add tabasco and any additional seasonings. Simmer, covered, until potatoes are fully cooked (check by cutting with fork). Remove bay leaf before serving