Bethenny Frankel may be known as a self-made millionaire entrepreneur today, but 15 years ago it was her frugality that made her stand out.
In a recent TikTok post, the 52-year-old spoke about how she was militant about not spending money she didn't have. "I never spent a godd--- dime until I made money," she says. "Never. I couldn't afford a taxi. I would pray that someone would buy me a drink."
Frankel earned just $7,250 for her star-making turn on the first season of "The Real Housewives of New York." Living within her means meant that her apartment was filled with budget-friendly furniture — a far cry from the wealth and glamour highlighted on the show.
"My apartment was furnished by Ikea when I was on the 'Housewives of New York,'" she said. "I didn't have [money], so I didn't pretend I had it."
In the years following her "Housewives" debut, Frankel started and sold her Skinnygirl Cocktails brand for a reported $100 million. The deal landed her on the cover of Forbes. Still, the entrepreneur said that she had trouble getting rid of her frugal habits.
"I was on the cover of Forbes and called my business manager to ask if I could buy a handbag," she said. "I was always terrified, because you don't spend money you don't f---ing have."
Now, Frankel's approach to spending money isn't fear-based. She told CNBC Make It last year that she's willing to splurge if the thing she's buying feels "like an investment."
"I'll spend on high-quality items like luxury goods, but it has to be something you're holding [for longevity]," she said. "It could be a watch. It could be a purse."
Indeed, Frankel said that she's more comfortable spending her money now that she has built up a sizable financial cushion.
"I'm sensible, but as I get older, the more I spend," she said. "I can lean into what I've saved up, and I'm not working just to leave money for the next generation."
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