Real New York Housewife Ramona Singer says rival ex-housewife Bethenny Frankel is playing with funny money. She disputes Frankel’s claim that her business empire is worth $120 million.

Since vaulting to notoriety on the Bravo reality show, Frankel has expanded her empire to include best-selling books, exercise videos, a clothing line, weight-loss supplements and two other reality shows.

In all, the reality personality said her SkinnyGirl brand is worth $120 million. But Singer, who has spun off her own brands from the show, including jewelry and a wine line, claims Frankel is exaggerating.

“It’s rumored, remember? It didn’t say fact. Rumored,” Singer told gossip Web site Popeater.

For one, Singer doesn’t think the Frankel’s SkinnyGirl Margarita brand sold for nine-figures as Frankel claims.

Singer said it is only sold in 14 states, not the 40 that Bethenny claims. She pegged the deal at “Maybe about $30 million total.” she guesses,” and divided between her and her partner David [Kanbar].

“And usually they do a pay-out, you don’t get all the money upfront; they pay you out over time,” she said.

Last year, Frankel’s income was estimated at $4 million, by the Daily Beast, placing her third on a list of reality stars led by Kim Kardashian.

The “Bethenny Ever After” may have one redeeming achievement from her reality career; she didn’t waste her money on bling.

“I’m not running around buying diamonds and getting facials. I just decided to be totally honest and own it. You can’t do something you don’t stand for just to make money. It’s a smart audience, people will realize it,” she told the Hollywood Reporter last month.

Frankel’s honesty, however, has been called into question by no less than her mother. She accused Bethenny of being a chronic liar, who lied constantly as a child to reinvent herself.

Last year a controversy arose after Frankel told reporters she had no skating experience when she went on “Skating With the Stars.”

But estranged mom Bernadette Parisella Burke (also spelled Birk), said Frankel had numerous skating and roller skating lessons as a child, and was a good skater.