Heidi and Spencer Pratt’s financial woes

Heidi and Spencer Pratt have "nothing to show" for their time on ‘The Hills’.

Though the couple were raking in over $2 million a year in 2009, thanks to the reality show, personal appearances and staged paparazzi shoots, they were spending money as quickly as they earned it and failed to listen to warnings from their business managers.

Spencer said: "We were keeping up with the Joneses, but we were going against Tom Cruise and Katie Holmes. We should have stayed in our reality TV lane."

Heidi added: "I was kind of playing house. I felt like I was someone I wasn’t. We had business managers who told us to stop spending but we acted like we knew what we were doing."

But within a few years, the couple had frittered away their entire fortune, thanks to splurging $1 million on Heidi’s wardrobe, the same amount on Spencer’s crystal collection, expensive meals out accompanied by $3,000 bottles of wine and a hefty payroll, which saw bodyguards paid up to $15,000 for just one night out.

Heidi, 29, admitted: "I was feeling so alone and defeated. 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."

But the couple are now doing "fine", thanks to appearances on shows like ‘Celebrity Big Brother’ in the UK and ‘Marriage Boot Camp: Reality Stars’.

Heidi told People magazine: "We make most of our income from reality shows. We’re doing fine. Each show is like an audition for the next."

And the couple have also made extensive cutbacks, including living rent-free in a vacation home in Santa Barbara, which is owned by Spencer’s parents.

The 32-year-old reality star said: "We haven’t been out to a fancy dinner since our anniversary. If Heidi’s not cooking, we’re eating tacos."

His wife added: "I would love to crack down on our budget even more."

While they may not be as well off as they used to be, Heidi thinks it is important to count their blessings.

She said: "Life is so short. And what matters is being happy with family and marriage and with personal progress. We’re in a really good place."