Are the Real Housewives Bad for Your Financial Health?
I love The Real Housewives.
There, I said it.
And no, I’m not embarrassed.
My husband literally can not stand to hear an episode of the show. I tend to pause it when he comes into a room so I don’t have to listen to the same comment again and again…..
“You’re a smart woman, I just don’t understand how you can watch this crap.”
Well dear husband, let me explain. It all started in university….
After a long day of reading, writing and listening to complicated subject matter I needed some time to tune out and turn off.
Like most multi-tasking women I can’t just tell my brain to stop. I need to focus on something mindless in order to stop thinking about the normal daily list:
“Do I need to pick up milk, when was my last teeth cleaning, should I schedule an appointment, did I pull the laundry out of the dryer, what are we going to make for dinner, how am I going to finish my term paper, do I have time to go for a run, did I pay the credit card, what is the meaning of life…..you get the idea.”
I don’t watch a lot of TV (this is a bit of a lie) but I make sure to put aside a few hours a week to catch up with the ladies from The O.C., Beverly Hills and New York. These are my three fav groups of ladies and we go wayyy back.
In my mind there is nothing better than grabbing a glass/bottle of wine, retreating to the couch and spending some quality time with the wives!
What ridiculous shenanigans will they get up to this week?
In addition to providing some mindless entertainment, I am about to argue that the housewives provide some legitimate lessons in personal finance. A mixed bag of what to do and, what you definitely should not do.
Are the Real Housewives Bad for Your Financial Health?
Some of the housewives are good for your financial health.
When it comes to the housewives there are some boss ass women in the franchise.
Take Bethenny Frankel as an example.
You might not like her sarcasm and tell-it-as-she-sees-it style, I personally appreciate both of these qualities, but the girl gets shit done.
Bethenny is someone to look up to because she is a self-made multi-millionaire. But, she hustled for decades before she hit it big.
Girl hit it REAL BIG.
She sold Skinnygirl cocktails for $100 million according to her website
Today Bethenny’s empire includes: cocktails, popcorn, salad dressings, shape-wear and jeans. She’s an investor on Sharktank, a philanthropist with her B-Strong foundation, an author and she even owns her own production company.
Lisa Vanderpump is another female force to be reckoned with. She loves puppies, the colour pink and lives in the LA version of a castle (Ahhh, Villa Rosa, what a dream land).
Lisa is a restaurateur, editor, t.v. personality, dog advocate and producer…just to name a few. AND, like any self respecting housewife she has her own brand of alcohol….Vanderpump Rose and LVP Sangria!
Moving along…
Vickie G, the self proclaimed “OG from the OC.” She might be a loose cannon but she has established herself as a force in the insurance industry.
She went from selling insurance out of her living room to opening her own company, Coto Insurance. She also owns a production company and a diamond jewelry line.
Ramona Singer.
Oh Ramona.
In general I find her to be loud, rude and she’s a Trump supporter….sooooo. I’m not the biggest fan.
But, I have to give credit where it’s due — she came from humble beginnings and found great success in the fashion industry. She has a skin car line, a jewelry company and of course, her own brand of wine, the Ramona Pino.
When it comes to the business of making money these women have it figured out.
Some housewives are BAD for your financial health
Tinsley Mortimer. WTF girl. From watching you on the RHONY you seem like kind of a socialite bum.
You live in a hotel and don’t seem to have a job. I know I don’t KNOW you and therefore shouldn’t comment on you or your life but, you’re on a reality show so that makes you fair game.
You are not presenting a picture of a strong, empowered woman. And why not? According to your website you’ve had success in business (handbag line, clothing line, author)…why not portray yourself as an entrepreneur and someone who can stand on their own two feet.
It’s just hard to look up to a woman who acts like a child at 42.
She’s one of the first wives that I remember having major money problems on the show.
If my memory serves me correctly her husbands construction business was going through some tough times (this was around the time of the recession) and Lynne is completely shocked when she finds out that the family is in financial trouble.
However, she continues to shop and even gets a face lift….as one does when you are facing bankruptcy!
Sonja Morgan. Bless her clueless little heart. Back in the day Sonja was married to John Adams Morgan (relative of J.P Morgan a huge force in the financial services industry….meaning, his family had a lot of money).
She was livin’ the high life. Private jets, yachts, European vacations (according to her). That came to an end in 2006 and since then she has had her share of financial problems. Divorce, law suits debt and bankruptcy. Yikes!
I have to give the girl some credit. She has tried to make something of herself (toaster oven, skinny something drink, burlesque) but she lacks some serious focus. However, with her gig on the housewives and her recent decision to rent her townhouse for upwards of $30,000 per month it doesn’t sound like Lady Morgan is doing too shabby!
Theresa Giudice. Although I am not a dedicated fan of the RH of New Jersey, (I’ve dabbled in a few episodes), I am still well aware of the Giudice’s financial woes.
Theresa and her husband Joe have both served/are serving sentences for a number of different fraud charges and failure to file their taxes.
Theresa has a done a good job of capitalizing on her position as a real housewife. However, her families financial issues resulted in her being institutionalized. She does not come across as the most financially literate/savvy woman….don’t do what she did.
What are the financial takeaways?
1. All of these women are bosses in their own right. Whether they display financial prowess on the show or not, they are all working. Just by being part of the “Housewife” franchise they are making a good chunk of change (well into 6 figures).
2. They are capitalizing on an opportunity. On a similar note, even the ladies who come across as financial fu*k ups have used their position on the Real Housewives to brand themselves and form new businesses. They are capitalizing on the franchise name. This is a smart move.
One of the most difficult things about starting a business is gaining a following. Finding clients. Gaining recognition. Having a platform like the Real Housewives can really help with the launch of a career if you use it properly.
3. If at first you don’t succeed try and try and try and try again. Before Skinny Girl Bethenny was trying to make it as a chef with her company “Bethenny Bakes.” According to her website she also sold “Princess Pashminas at house parties.”
These two business ventures were not run away successes but that didn’t stop her, she just kept grinding away until she found the right business idea.
4. Find a cause or something that makes you tick and go for it. If you care, you will be successful. Most of the women on the Real Housewives support various charities.
Think about the money, effort and love Lisa Vanderpump puts in to Vanderpump dogs (a charity to better the life of dogs around the world).
Same with Bethenny Frankel and her work with the B Strong - her charity that helps people affected by recent disasters (she was the first person to provide aid after the hurricane in Puerto Rico).
These ventures have been very successful because these ladies are passionate about the cause and really, really care.
5. Work hard. Having a lot of money won’t result in instant happiness, or any happiness for that matter. However, it does help you afford opportunities and experiences. If you want to live like a housewives (minus the plastic surgery, screaming and snootiness) then you need to work your butt off.
6. Ladies, you can’t/shouldn’t rely on anyone but yourself when it comes to your finances. This sounds bleak and harsh but what I mean is you need to take control of your own financial situation.
Don’t rely on daddy, mommy, a husband or anyone else to support you because it might work out for you financially, but it might not. The only way to secure your financial future and be 100% in control of your life is to make and manage your own money.
7. Remember what is really important. Money and fame look great from the outside….scratch that. Money looks great from the outside, I have no desire for fame. But, if you do achieve a level of success and fame you need to keep your head on straight.
You don’t want to become a pretentious ass hole. I wasn’t going to talk about Countess Luann but just to highlight the ass holiness I’m talking about…she calls her driver “Driver.’ As if that is his name. Can you imagine.
Remember what’s really important. Family, friends and being a kind and generous human being.
8. It’s important to find some focus. You really can’t do it all…well, at least not well. If you’re like me and you find it hard to focus on one thing because you are distracted by all of the other awesome things you could be pursuing. This is not a way to be successful.
Don’t make the same mistake as Sonja. Either give that toaster oven everything you’ve got or focus your attention elsewhere. You can diversify, as many of these ladies have, once you have established yourself as a force in one area.
Which bring me to my next point.
9. Diversification is key. Just as it is important to diversify your investment portfolio it is also important to diversify your streams of income (I am personally trying to work on this right now). Most of The Housewives have many income sources making them much more financially secure.
10. Stop trying to Keep up with the Joneses. It’s just like the saying goes, “If you can’t afford to pay your rent, then you can’t afford a facelift.” You know, that old chestnut. Haha, Lynne Curtain, I’m talkin’ to you.
But for real. Stop buying things to impress other people. They don’t care. No car, house or lifted face is worth jeopardizing your financial future.
11. Don’t commit fraud and pay your taxes. You would think this is self explanatory butI said it as a friendly reminder just in case Theresa Guidice is reading this.
12. “Money don’t buy you claaaasss.” In the words of the tone deaf songbird Countess Luann (Agh, I brought her up again) “Money don’t buy you claaaasss.” Check out her chart topping hit here. I’ll warn you, it is almost too much to handle (and not in a good way).
Remember, money also doesn’t stop you from making bad decisions, drinking to much or going go jail (well sometimes it stops you from going to jail….but not in Luann’s case)!
One more thing to remember before we part….
So, what do you think? Are the housewives good or bad for your financial health?
References
Cover Photo by Daniel Barnes on Unsplash
