1. Start by cooking the bacon in a large heavy-bottomed pot over medium heat until crisp, about 6-8 minutes. Remove the bacon and place it on paper towels to drain. Leave about 2 tablespoons of bacon fat in the pot for flavor.
2. Add the butter to the pot with the bacon fat. Once melted, add the chopped onion and cook until translucent and fragrant, around 5 minutes. Stir in the minced garlic and cook for another 1 minute, being careful not to let it burn.
3. Sprinkle the flour over the onions and garlic, stirring constantly to create a roux. Cook for 2 minutes, which helps thicken the soup later and removes the raw flour taste.
4. Slowly pour in the chicken broth while whisking to avoid lumps. Add the diced potatoes and bring the mixture to a boil. Reduce heat to a simmer and cook until the potatoes are tender, about 15-20 minutes. You’ll know they’re ready when a fork slides in easily.
5. Once the potatoes are soft, use a potato masher or an immersion blender to partially mash the soup. I like to leave some chunks for texture, but if you want it smoother, blend more thoroughly. This step is where you balance creaminess and chunkiness—a lesson I learned early on when trying to fix over-salted chili by adjusting texture and flavor.
6. Stir in the milk and heavy cream, then add the shredded cheddar cheese a handful at a time, stirring until melted and smooth. Season with salt, pepper, and smoked paprika if using. Simmer gently for another 5 minutes until everything is heated through and well combined.
7. Chop the reserved bacon into small pieces and stir most of it into the soup, saving some for garnish.
8. Ladle the soup into bowls and garnish with the remaining bacon pieces and sliced green onions. Serve hot and enjoy the cozy, comforting flavors that will bring everyone to your table.

Pro tip: When hosting my Wednesday dinners in college, I’d prepare this soup in advance, then finish it off last minute with cheese and bacon. It’s a real time-saver and helps keep the soup fresh and flavorful.