Add ground beef to a large pot or Dutch oven. Season with salt and pepper. Cook on med-high heat until browned, drain grease. Add steak to the pot with ground beef and cook until browned. Add onion and spices (cumin, paprika, smoked paprika, chili powder, cayenne pepper). Cook for a minute or two until the onion has slightly softened, then add bell pepper, garlic, and jalapeno.
When veggies have softened a little, add diced tomatoes, tomato sauce, water, and bay leaf. Bring to a boil, stir in the bouillon until dissolved, then reduce heat to a simmer. Taste for needed salt and add your desired amount. Add beans and simmer for 30-45 minutes. Garnish with your favorite toppings and enjoy!
Notes
If you can't find canned tomatoes with green chiles (Rotel), you can use a can of diced tomatoes and a can of diced green chiles instead.
Once cool, store the leftovers in an air-tight container in the fridge for up to 4 days.
You can freeze chili in freezer-safe containers or freezer bags. Use within 3 months for the best quality.