Remember Spencer Pratt and Heidi Montag, stars of the MTV “reality” show “The Hills”? Spencer was always pegged as the villain of the show, constantly butting heads with the show’s star, Lauren Conrad. Conrad begged Montag to end things with Pratt but instead of following her friend’s advice she married Pratt in 2009. The couple tried desperately to stay in the limelight. Pratt would often orchestrate a series of bizarre photos ops designed to look like paparazzi photos or tip off the paparazzi to the couple’s location and then pose for pictures for the gossip magazines. As their time in the limelight waned, Montag became desperate and underwent a dramatic plastic surgery transformation that left her looking like a new person. The couple then spent $2.5 million to make Montag’s critically and commercially panned album Superficial. But the real tragedy is how the once famous couple blew threw their entire $10 million fortune in only four years. How did they do it? Let’s look at the breakdown:
$10,000 a week at trendy restaurants
$4,000 bottles of wine at each dinner
$75,000 a month to rent their luxury home
$20,000-30,000 daily shopping sprees
$200,000 for Montag’s plastic surgeries
$100,000 a month for Montag’s hair and makeup
$40,000 to reduce Montag’s F cups to C cups
Pratt was quoted as saying, “Every time we’d go out to eat, we’d order $4,000 bottles of wine…Heidi was going to the mall and dropping $20,000-$30,000 daily…we thought we were Beyoncé and Jay Z.” The couple has now resorted to frequenting food trucks in lieu of spending $10,000 a week at their favorite restaurants.
Montag says, “Now I spend like $100 at Victoria’s Secret. I feel like a different person…it’s hard, we have to be diligent about what we spend.”
Regardless of the couple’s financial woes, they remain married and plan on conceiving a baby in the near future. Pratt says, “My plan starts at a lotto ticket—one big win and then we can consider having a family.”
That seems like sound financial planning.