The Punky Brewster actress shot to fame in the '80s on the hit television series and went on to have recurring roles in later shows such as Sabrina, The Teenage Witch and The Proud Family.
In an interview with Parade, Frye insisted that she has no regrets about growing up in the spotlight and does not believe that it had a negative impact on her later career or personal life.
"I have so many fond memories. I immediately think of the scary clothes that I wore. Catsuits were big for me in the '90s, and I had many of them. Even catsuits with shorts in them," she recalled.
"I remember wearing a skintight bright cherry-red dress to my Sweet 16 party, and none of my friends told me I looked out of sight!"
Frye also dismissed the idea that being famous at a young age is a bad thing but admitted that kids should enjoy their childhoods.
"I think it's really important to look at all of the kids who turned out fantastic. More kids turn out great, I think we just hear more about the negative ones. There are far more positive stories that come out of Hollywood, but they don't sell magazines," she explained.
"That said, I think kids should always just enjoy being a kid. One of the things my mum did was force us to go to summer camp, which was the best experience of our lives. She wouldn't let us work in the summer even if we wanted to."
Frye recently congratulated friend Alyssa Milano on becoming a first time mother.
Milano welcomed a baby boy named Milo Thomas with husband David Bugliari on Wednesday.