Credit: Todd Williamson/Bravo
Shannon Beador defended her finances after revealing on a recent episode of The Real Housewives of Orange County that she spends more than $37,000 per month.
As Vicki Gunvalson, 64, spoke of Shannon’s need to live in an area for “rich people,” her overspending, and her divorce mistake, and Tamra Judge, 59, suggested that Shannon, 62, was actually moving into a more expensive place, Shannon said that while she should be “more aware” of her financial habits, she wasn’t willing to change certain aspects of her life.
“I do need to be more aware of how I’m spending my money … [But] I’m gonna sit in the front of the plane,” Shannon declared on the September 3 episode of the RHOC: After Show.
According to Shannon, she doesn’t fly first class for service. She does so due to her claustrophobia.
“I need to know that I’m out that door quickly when the plane lands,” she reasoned.
As for her use of Uber Black, Shannon said she wanted to know she’d “be safe.”
She also defended her $10,500 per month rental in Corona Del Mar, saying, “I love living in Corona Del Mar … It is good for my mental health,” as Vicki pointed out that “Corona Del Mar is for rich people.”
“I’ve thought about living there, but I’m not gonna spend $5 million on a house that doesn’t have a garage, that has a carport and has a back house unit that you can hear the person flush a toilet. Not happening,” Vicki explained.
Then, as Tamra and Heather Dubrow, 57, suspected Shannon spent so much because she was “raised with money,” Shannon recalled negotiating a salary when she did chores around her childhood home.
“Every Sunday I went to Contempo Casuals, and I bought an outfit. So I did learn the value of the dollar; I just spent that dollar,” she admitted.
After growing up and marrying her now ex-husband, David Beador, Shannon said she wasn’t involved in their finances.
“I wanted to know more about our finances, but that was my ex-husband’s role. He didn’t want me to play any part in it,” she shared.
Once divorced, Shannon launched Real for Real in hopes of creating a business that would sustain her beyond her time on RHOC.
“I started with the frozen food and then I kind of segued into supplements, and I wanted to own it myself, so I funded it, and it was very expensive. I had employees. I had office space. I had product, and unfortunately for me, I think that it would’ve gone well; I just didn’t have the right people doing the work for me,” she explained. “I put it all into a business that didn’t pan out.”
While Shannon said she was trying to “save as much as [she could]” these days, she clarified that she was “also going to enjoy [her] life.”
“I will spend money on my kids. I will take my father out to a nice dinner at least once a week, and it can add up, but you know what? My dad, he says he lives to see me, and you can’t put a price on that, so I’m not gonna go to the Taco Bell. I’m going to go to Javier’s,” she stated.
Meanwhile, Vicki said that when it comes to discussions with Shannon about her finances, she has to be careful not to hurt her feelings or make her feel dumb.
“She’s not dumb; she’s very smart. But I have to be very careful and cautious because some of the decisions she’s made was not financially sound. I personally think she overspends,” she noted. “Financial independence is, for me, everything. I told Shannon, living within your means, I mean, that is number one. I always fly coach … she thinks a driver is better than my Prius. They both have driver’s licenses. They both were vetted out .. I don’t waste money. I’d rather have the money in my pocket.”
Looking back on Shannon’s divorce, Vicki said that she encouraged her to buy a house after securing a large settlement.
“[I said], ‘Go buy a house. Put 80 percent of it down on a house. Put 20 percent in the bank,’ and she didn’t, and now we’re 10 to 12 years after this divorce. She’s still renting, and that makes me crazy. She could have doubled and tripled her equity in that house if she had listened to me,” she pointed out.
As for how she should proceed, Tamra said she and Vicki had both talked about Shannon downsizing.
“She can put money down on like a condo to get herself started, like what [Gina Kirschenheiter] did, and she refuses,” Tamra shared. “Save. Don’t live beyond your means.”
Instead, Tamra continued, “[She’s moving across the road to a] more expensive place, I heard.”
Also on the after show, after Jennifer Pedranti, 49, gave a nod to Shannon’s generosity, Gina, 42, admitted that moving on from a marriage in which you have no financial control can be tough.
“I think that it’s a very difficult thing for a lot of women to do who are in marriages where the husband’s making a lot of money. They have nothing to do with the finances at all, and then they’re out of that relationship, and they’re in a completely different circumstance,” she explained. “It’s a hard pivot to make, and I think it’s been difficult for [Shannon].“
The Real Housewives of Orange County season 20 airs Thursdays at 8/7c on Bravo.