Preheat your oven to 350°F (175°C).
In a large mixing bowl, combine ground beef, milk, eggs, crushed Ritz crackers, garlic powder, onion powder, salt, pepper, and cheddar cheese. Mix until fully incorporated.
Shape the mixture into a loaf and place it in a greased 9x5-inch loaf pan or on a lined baking sheet.
In a small bowl, whisk together ketchup, brown sugar, and mustard. Spread the sauce evenly over the meatloaf.
Bake for 55–60 minutes, or until the internal temperature reaches 160°F (71°C).
Let rest for 5–10 minutes before slicing and serving.