There were sequels to it too. The fairy godmother would appear to children to grant their wishes (kind of to teach them a lesson) she would appear to them in their TV.

It was on TV on the weekends in 1980's and may have had 2-3 movies. I think they came on TV on saturdays.

I actually found it myself
It is called The Seven Wishes of Joanna Peabody

And the sequel is called Seven Wishes of a Rich Kid

It took a bit to find it