In a brand-new interview in conjunction with Life & Style magazine, Spencer Pratt tells ET that he and his wife Heidi Montag were trying to "buy fame," but now "have no money" and live on a $400 per week allowance from his dad.
Spencer says, "We felt the fleetingness of 15 minutes of fame so we were trying to buy, like, … Let's buy fame."
The former reality star explains, "Like if we could eat at this restaurant all the time, maybe we'll get seen with Mel Gibson or these bigger stars. So you know, we knew our positions, so we were having basically to buy into a tax bracket we didn't belong into."
"I know it's the dumbest thing ever spending money on things," Spencer says, acknowledging their folly, "But it's like, if we didn't, we wouldn't have got this [web write-up], or we wouldn't have got this picture in the magazine, and then we wouldn't be famous at all, and that's the only thing we had going for us at the time."
When it comes to their extreme spending, Spencer details, "I would say we were spending more than $100,000 [each month] on clothes for sure. And we would only wear them once." He says that the producers of their cancelled MTV series "The Hills" would get upset if they were seen wearing the same outfit twice, citing continuity issues.
Spencer says the pair were spending money before it even came in, and when the last ten episodes of "The Hills" didn't get picked up, they didn't have a back-up plan. "For me to think I was going to be famous and continue at that level of income on a steady basis, was ... naive, egotistical, and just foolish," Spencer says. Now, he says, "I can't have a long-range plan because I'm so hated I don't see anywhere I could go."
When it comes to the possibility of being homeless, Spencer says, "I'm not afraid, I know it's a reality if we didn't have my dad letting us live in his guesthouse, Heidi and I would have no place to live so we would be homeless and we couldn't afford [to live] anywhere."
The pair, dubbed "Speidi" by the press, announced earlier this summer that they were divorcing, and some thought their divorce was fake. Spencer says it was 100 percent real, but not for obvious reasons: "As much as I love her, I was like, 'You need to divorce me to save any chance of a career, a business for yourself.'" The couple thought that if they divorced, Spencer's onscreen villain persona would stop reflecting on Heidi. "It's not fair for this sweet, innocent Heidi Montag to be part of Speidi," Spencer says his thinking was. "So really I was trying to divorce Speidi ... 'cause you know I know I have no future career on camera, on TV, but Heidi, still to this day, I think could be the biggest actress, TV star, movie star, singer -- she was born for it."
Spencer says that they decided to call off the divorce when they realized that the attention Heidi was getting in the media was still negative.
After all they've been through, though, Spencer says that he is thankful that he still has his wife: "I became this hated to buy things that I don't even have anymore. So I have nothing to show for it. Thank everything that Heidi has stayed with me through all of this because I wake up and say, 'At least I have Heidi. [That's] the greatest thing out of all of this.'"