Spencer Pratt & Heidi Montag Confess How They Lost So Much Money

Photo: Broadimage/REX/Shutterstock.
Spencer Pratt and Heidi Montag are without a doubt one of the most iconic reality star pairings of our young millennial lives. They earned six-figure paychecks each from stirring up enough drama on The Hills to last a decade. After the show wrapped, they then began hustling hard to keep their names in the headlines by selling photographs to paparazzi, being paid to attend events, and starring in more cheesy reality shows.

But then, the couple famously lost all their money. In 2013, the couple told InTouch and HLN that they were broke after spending about $10 million. It appears that they are still struggling to regain financial stability.

Recently, People talked to Speidi at their home where the couple explained just how they went from millionaires to living rent-free in Pratt's parents Santa Barbara vacation home. In the end, it was a classic case of "keeping up with the Joneses."

Caught up in the demanding lifestyle of L.A., the couple told the site that after they married in 2009, they started to spend luxuriously. For example, they say they spent roughly $1 million just on Montag's wardrobe, and another $1 million just on Pratt's crystal collection. They also ate expensive meals, washing it down with $3,000 bottles of wine, all the while surrounded by a "full staff." People estimates that bodyguards can cost up to $15,000 — just for one night of work.

Pratt said their need to overspend came from the pressure they put on themselves to keep up with other celebrity couples, like Tom Cruise and Katie Holmes. He admits, in hindsight, they "should have just stayed in their reality lane," referring to their social status as reality stars, and not movie stars.

The hardest part for Montag was realizing how much of their fortune they had lost (which ended up being nearly all of it.) "I was feeling so alone and defeated," Montag said. "Everyone else on our cast had houses and we had nothing to show for what we'd done. I was like, the haters were right! It was sad."

Now, their income mostly comes from reality show appearances. Montag says doing a show like Marriage Boot Camp: Reality Stars often becomes an audition for the next reality program. The two are happy with less now, although living on the beach for free doesn't sound too laborious, and said they are focusing on "being happy with family and marriage and with personal progress," in the words of Montag.
Advertisement

More from TV

A new Anne of Green Gables movie is on the way! Those of you who have been fearing the inevitable tense political debate with a long-lost relative that ...
There are two kinds of TV-watchers out there. The first are normal, well-balanced people who are dying from the very beginning to know how a series ends...
The Pfeffermans are back! To quickly get up to speed, check out our Binge Club for season 2. Already set? Let's get this started. Episode 1: "Elizah" ...
The 2016 Emmy Awards were off to a great start when a surprising announcement came over the loudspeaker. A voiceover announced the next presenter: none ...
It's been over 12 years since Friends ended. And we still miss the shit out of that show. Luckily, every once in a while we're blessed with a nostalgic ...
Wait, what? American Horror Story co-creator Ryan Murphy just dropped a bomb on viewers — who are currently caught up in AHS season six, My Roanoke ...
Glee's cast sounds as dramatic as the characters they played. Ryan Murphy recently told Entertainment Weekly that all the fights and relationships ...
Kimmy Schmidt lives in her own world. It's a cross between middle school, the year 1999, and present-day New York. Mix in the fact that she was held ...
In a move that made Big Brother history, female contestant Nicole Franzel beat Paul Abrahamian in Wednesday night's finale, Buzzfeed reports. While this ...
It's no secret that Eleven on Stranger Things was the little-less-conversation-little-bit-more-action sort — minus the sexual Ariana Grande overtones. We...
There’s a certain feeling that wells up when you’ve just entered a room you were never supposed to be in. These rooms never have an overt warning sign; ...
Grey's Anatomy is back, and Alex is maybe a felon! The hospital's most lovable hothead finally snapped in a criminal way, beating the hell out of DeLuca ...
Amazing news, TV lovers of the world: Since we first published this story in 2013, there have been leaps and bounds in the number of streaming platforms ...
Awkward school photos, we've taken a few. That's why we can't help but sympathize with the doozy Kristen Bell pulled out on The Late Late Show Wednesday ...