In a large deep skillet or Dutch oven, heat a small drizzle of oil over medium-high heat. Add 1 pound of ground beef or turkey and cook until browned and no longer pink, breaking it up with your spoon as it cooks. Season lightly with salt and pepper.
Once browned, add the diced onion, minced garlic, and diced bell pepper. Sauté for about 5 minutes, stirring often until the vegetables soften and the mixture is fragrant.
Stir in the drained and rinsed kidney beans and black beans along with the canned diced tomatoes (including the juices). Sprinkle in 1 tablespoon chili powder and 1 teaspoon cumin, then stir everything until well combined. Let it simmer for a couple of minutes to allow the flavors to marry.
Pour 2 cups of beef or chicken broth into the pot and bring the mixture to a boil. Once boiling, add the 8 ounces of elbow macaroni. Give it a good stir to prevent sticking, then reduce the heat to medium-low. Cover and let it simmer for about 10-12 minutes, stirring occasionally, until the pasta is tender and most of the liquid has been absorbed.
Turn off the heat and sprinkle 1 cup shredded cheddar cheese over the pasta. Stir gently until the cheese melts and the pasta is creamy. Taste and adjust seasoning with additional salt and pepper if needed.
If you love a fresh herbal note, sprinkle 1/4 cup chopped fresh cilantro right before serving.