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Cook the bacon - Add the chopped bacon to a large Dutch oven set over medium-high heat. Once the bacon is hot and sizzling, reduce heat to medium-low and cover with a lid. Cook low and slow, stirring occasionally. Once the bacon pieces are golden, remove the lid and allow your bacon pieces to cook until the desired doneness is reached. Using a slotted spoon, transfer the cooked bacon to a plate lined with paper towels and set aside. Reserve 2 tablespoons of leftover bacon grease.
Brown the ground beef - Over medium-high heat, add 1 tablespoon of reserved bacon grease back to your Dutch oven and add the ground beef. Brown the ground beef and season with salt and pepper. Transfer beef to a clean plate and set aside.
Cook the onions - Add the remaining tablespoon of bacon grease to your pot and set over medium heat. Add the onions and cook for 5-7 minutes, or until soft and translucent. Sprinkle with salt, cumin, garlic powder, chili powder, and sugar. Mix well to combine. Stir in the tomato paste and cook for 1-2 minutes over medium heat, stirring continuously. Add the diced tomatoes and tomato sauce and bring to a simmer.
Return the beef and add some beans - As soon as your onion and tomato mixture reaches a simmer, return the bacon and ground beef to the pot. Stir in the kidney beans and add 2-3 cups of low-sodium broth (beef, bone, chicken, or vegetable broth). Mix well to combine.
Simmer - Allow your chili to simmer for 15-20 minutes before serving. Add additional salt, pepper, or spices, if needed, and add additional broth if your chili is too thick.
Serve - Serve with all your favorite toppings including sour cream, shredded cheddar cheese, chopped green onions, and Tobasco sauce, if desired.