Article: Blowing money fast vol. It's not just athletes (surprisingly)

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[h1]How Heidi Montag and Spencer Pratt Went Broke, by the Numbers[/h1]While it seems everyone wants to eulogize the reality show careers of Heidi Montag and Spencer Pratt of The Hills, The Price of Fame set out to itemize.

In piecing through bits revealed in their we-are-broke-and-we-were-stupid confessionals in the Daily Beast and elsewhere, we've been able to quantify their fiscal waste. The couple has burned through at least $10 million, according to the Daily Mail. They're now camping out at Spencer's parents' beach home in Santa Barbara, reportedly subsisting on burritos and perhaps wondering how their 15 minutes fizzled out faster than Alka Seltzer.

"Somebody who reaches that pinnacle of success has to realize that success is very fleeting," said TPOF resident expert Mitch Slater, senior vice president of investments for UBS Financial Services. "Just look at the heap of child and teen actors that became financially ruined for not saving any money."

Just how profligate was Speidi, as they became known during their six seasons on the MTV show that went dark in 2010? Let us read on and learn from their covetous ways.

The numbers tell a story that might have made an even better docu-series -- perhaps one that could have competed with Jersey Shore before that vapid vehicle of vulgarity wiped The Hills off the map.

What they spent:

--$2 million on Heidi's nowhere music career. She wanted Britney Spears. She got the remainder bin.
Her album Superficial sold less than 1,000 copies in its first week of release in 2010.

--$1 million-plus on Spencer's wardrobe. He told the Beast they were props.
--$500,000 on Heidi's plastic surgery, including boob jobs, nose jobs, chin job, booty job and just about every other job that doesn't pay. This is a guess. The actual operations were estimated at $300,000. It was the $2,000 per nurse visit and bandage change during her recoveries that led us to suspect her mid-six-figure tab.
--$35,000 a month on a Malibu mansion, the Daily Mail said.
--$8,500 a month on a Hollywood Hills rental.
--$11,000 for a rebuilt engine, plus larger undisclosed costs, for a monster truck that he drove once on the show.

Where it came from:

--$3 million in income and endorsements from the first two years of The Hills alone.
--$100,000 per episode for Montag and $65,000 for Pratt in the last season.
--$3,000 per photo of the couple at their peak.

Where will it come from?

Pratt has inquired about working as a reality actor's agent and told no thanks, the Beast reported. Montag got a temporary gig on VH1's Famous Food. But it's apparently not paying the bills because Pratt's parents buy the groceries. Pratt, who turns 28 in August, said he learned that reality TV isn't a career. Montag, 25, wondered aloud why her small-town values did not make her sock away the money.

It's the kind of hindsight that could have made the difference between being reality has-beens with a financial future to cautionary-tale punchlines.

"They clearly forgot the golden rule of financial literacy: to immediately pay yourself first," Slater said. "It's hard for me to imagine that nobody said to these two young people, don't forget that this can all go away like that and you need to save."

Fiscal responsibility, they had none.
 
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It's crazy how people can spend so much money on such extravagant things when there are people in the world who can't even eat once a week.
 

kdawg

Staff member
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Wow, that's ridiculous. It's like they actually looked for things that they could waste money on - they got nothing tangible from any of that.

Sure, enjoy your money while you're being paid - but at least buy things that are worth something - and invest a significant portion of it. They should have been set for life - not mega rich but at least with a moderate income even if they never worked again.
 
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Originally Posted by scshift

It's crazy how people can spend so much money on such extravagant things when there are people in the world who can't even eat once a week.
It's not hard to believe. 
 
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Originally Posted by Carver

Jersey Shore cast in a few years
Doubt it they still driving the same cars and living at home with the rents and Pauly D basically has a gig for life.
 

Pathos

formerly retrosan
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Originally Posted by Carver

Jersey Shore cast in a few years
nah Pauly D probably the smartest person on that show, his DJing will keep him well funded
 
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Originally Posted by Carver

Jersey shore cast(minus Pauly D) in a few years..
From what I have seen on the show Deena, Snooki, Vinny, and Sammi still live with their parents. 
I don't know what they could blow all of their $$$ on since they are driving the same cars unless they got a drug habit or blowing money on clothes and jewelry.
 
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^ yea, Pauly D is smart. but he also had a talent/skill before the show
doesnt dude have a DJ residency at the Palms in Vegas?
 
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The J-Shore cast aren't as extravagant as these fools...

Every cast member on that show knows what they are doing....don't let that foolish behaviour (acting) on the show fool you...they are banking on endorsements and appearances at parties...plus the flow from each episode....
 
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Originally Posted by kbweezy24

^ yea, Pauly D is smart. but he also had a talent/skill before the show
doesnt dude have a DJ residency at the Palms in Vegas?
Yep he ain't gotta worry bout !%#* unless he loses a hand or something 
 
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Originally Posted by pookieman

The J-Shore cast aren't as extravagant as these fools...

Every cast member on that show knows what they are doing....don't let that foolish behaviour (acting) on the show fool you...they are banking on endorsements and appearances at parties...plus the flow from each episode....

It's all the same. Some people who were on The Hills aren't broke like Heidi and Spencer. Some people from J-Shore won't be broke, but you can bet it that some will.

Once the new "hit" show comes around, and these episodes dry up and they aren't "known" anymore the money will stop.

If you're financially savy than you should be ok, if not forget about it. It's not about how much you make it's how much you save and manage.
 
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Who the ^&$# spends half a million on $#%^ing PLASTIC SURGERY?! You could buy a nice ferrari california and some dope kicks with that cash, plus still have a bunch of money to invest!
 
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On top of that, $8500 for a rental is absurb.

You don't even own the damn thing yet you're paying $102,000 a year. I don't even know what the average house price in America is but I bet it's around $200,000 give or take a few thousand.

Why not atleast take the money and use it towards  a down payment on a house, atleast build some equity.
 
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Originally Posted by Carver

Jersey Shore cast in a few years
Jersey Shore cast are just regular kids from working class families.  Judging by Sammi still pushing a Scion, meaning she didn't blow her paycheck on a purple Lambo, she is probably being smart with her money.  Those other fools come from privileged families and don't know the value of a dollar or the meaning of broke.
 
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I don't know why but I thought the couple was holding for than just 10 million.
 
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