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A Michigan couple who paid off their $200,000 mortgage in 4 years shares the exact budget sheet they used, and it accounts for every single dollar of their monthly income

A Michigan couple who paid off their $200,000 mortgage in 4 years shares the exact budget sheet they used, and it accounts for every single dollar of their monthly income
Courtesy of Andy Hill



Andy and Nicole Hill, a couple from Michigan with two children, paid off their $195,000 mortgage in just under four years with an annual household income of around $150,000.




The couple bought a four-bedroom home for $350,000 in 2013.




They made their first mortgage payment in January of 2014 and their last payment in November of 2017.




Andy told Business Insider that the journey to becoming debt-free required creating and maintaining a strict monthly budget.




He shared one of his monthly budget sheets — including a dollar-by-dollar breakdown of their $8,000 monthly budget — with Business Insider.




Visit Business Insider's homepage for more stories.



In 2013, Andy Hill and his wife Nicole decided to move from their small bungalow to a 2,600-square-foot ranch-style home in the metro Detroit area.
The couple bought the $350,000, four-bedroom house by putting down $155,000 and taking out a $195,000 mortgage. At the time, Andy was (and still is) a sales director and Nicole became a stay-at-home parent shortly after they moved.
They settled on a 15-year mortgage with a 3% interest rate and set a goal to pay the whole thing off in less than five years and ended up being debt free in just under four years.
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