There are traditional New Year's foods around the globe, but one speaks to my frugal heart: beans. Said to symbolize coins or wealth, they're an excellent (and inexpensive) choice for entertaining. I made a huge batch of chili, enough for our dinner table with friends and family, leftovers for our family's lunch the next day, and extras for a friend.
The recipe below stretches the most expensive ingredient - meat - with three kinds of beans, and the optional toppings on the side let diners choose how they want their bowl. I used my Instant Pot pressure cooker, but I've added variations for the stovetop or slow cooker as well. The recipe below serves about 20 for about $.55 per bowl (not including toppings), and is easily halved.
I've included my prices, including beans and spices bought in bulk, but as always, your prices may vary.
Chili for a Crowd
4 T vegetable oil ($.40)
2 lb. ground meat (I used a mix of ground pork and ground beef) ($4.98)
2 c. dry pinto beans ($.50)
2 c. dry kidney beans ($.75)
1 c. dry black beans ($.37)
2 medium onions, diced ($.50)
1 green pepper, diced ($.50)
1 stalk celery, diced ($.10)
3-14 oz. cans diced tomatoes ($1.50)
1-14 oz. can diced tomatoes with green chiles ($.50)
1-5 oz. can tomato paste ($.41)
Seasonings - to taste, adjust for your liking and availability ($.35)
2 T chili powder
1 1/2 T cumin
1 T smoked paprika
1 T garlic powder
1/2 T dried oregano
1/2 t cinnamon
Salt and pepper to taste
1. Rinse, drain, and prepare dry beans. I cook beans, unsoaked, in the pressure cooker, covered by 2 inches of water, on the Bean setting. You may instead soak overnight and cook on the stovetop. Drain cooked beans.
2. Heat oil over medium-low heat in a large skillet. Add diced onion, green pepper, and celery. Cook until onion is translucent, about 6-8 minutes. Add seasonings and tomato paste to the vegetables and fry, stirring frequently. Once fragrant, add meat and cook until no longer pink, breaking into small pieces.
3. Combine beans, meat mixture, and tomatoes into the Instant Pot, large stovetop pot, or slow cooker. Stir together. The mixture will release more liquid as it cooks, so don't worry if it looks a little dry, but feel free to add a splash of water if the chili doesn't look moist.
Pressure Cooker: Use Beans/Chili button.
2. Heat oil over medium-low heat in a large skillet. Add diced onion, green pepper, and celery. Cook until onion is translucent, about 6-8 minutes. Add seasonings and tomato paste to the vegetables and fry, stirring frequently. Once fragrant, add meat and cook until no longer pink, breaking into small pieces.
3. Combine beans, meat mixture, and tomatoes into the Instant Pot, large stovetop pot, or slow cooker. Stir together. The mixture will release more liquid as it cooks, so don't worry if it looks a little dry, but feel free to add a splash of water if the chili doesn't look moist.
Pressure Cooker: Use Beans/Chili button.
Stovetop: Bring to a light boil, then turn down to simmer for about 1 hour, stirring occasionally.
Slow Cooker: Set for low for 6-8 hours, or high for 3-4 hours.
4. Serve with toppings! Our favorites include:
- Sour cream
- Grated cheese
- Cilantro
- Green onion
- Diced white onion
- Corn chips
- Sliced olives
- Lime wedges
- Hot sauce
What are your New Year's food traditions? And what are your favorite chili toppings?
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