My two cents: there is an excellent breakdown of the two on the following website, https://decoratedlife.com/chalk-paint-milk-paint-difference/ it covers all the bases. Have a nice day, and Happy Crafting =)
Milk paint is thinner and wears better if it has a "bond" coat or primer coat. Very easy to work with. Chalk paint is thicker and foes not require a primer coat
Milk paint is cheaper than chalk paint and milk paint also allows you to do a lot more things on like making things look distressed and it's a more durable paint to use
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