In 2010, Pratt revealed the couple was broke and on the verge of bankruptcy, and they even gave up their luxury home and moved in with his father to save money.
He has now admitted they deliberately spent all their cash before 21 December, 2012 - the day the world was set to end, according to a prophesy based on the Mayan calendar.
He tells Britain's Ok! magazine, "We made and spent at least 10 million dollars. The thing is, we heard that the planet was going to end in 2012. We thought, we have got to spend this money before the asteroid hits.
"Here's some advice, definitely do not spend your money thinking asteroids are coming. But the world didn't end."
Opening up about his extravagant lifestyle, Pratt adds, "I would give my friends £15,000 for their birthday. Just cash. I would buy people cars. Every valet I met got a couple of hundred pounds tip. I would pay people £200 just to open doors for us."