“I See Myself Making The Same Mistake My Father Made”
Henrietta Manning, an award-winning artist, has twice been a finalist in the Wynne Prize for landscape painting. Based in Tasmania’s Huon Valley, her studio is in a historic apple packing shed that is open by appointment.
What did you learn about money from your family?
“Plus fours and no braces’’ was the expression my father used to describe his own father – that is, all show and no substance. He spent money on superficial things like joining the “right” social club and my father realised that without his mother’s determination they would never have had the security of their own home. Not surprisingly, my father took the opposite course. I saw him work long hours, some years not even joining us for a modest family holiday. A self-employed architect, he felt if work was offered he should take it, just in case times got hard. Relaxing was always for in the future, not now. Sadly my mother died when I was 13. My father told me one of his biggest regrets was not having spent money and time with my mother doing some of the things they had always planned to do together.
How do you think about money now?
I have always been careful with money, knowing I was going to be an artist and that I wouldn’t know what my income would be. I value the independence to do what I want with my time more than the prospect of a higher income. I will always value time over money.
Tell us about a bad money habit you’ve beaten or a good money habit you’ve learnt?
One thing I do right when I travel overseas, is put aside money so I can bring back pieces by local artisans. I struggle to spend for now, and tend to save for the unknown future – the very mistake my father made. I advise other people to use their best towels and linen that they put away, yet don’t do it myself. Maybe you have inspired me to get out the new towels and throw away the raggedy ones – or at least downgrade them to use as liners for animal rescue boxes or cleaning rags!
What’s the one work purchase you’d make if you had the money?
An accommodation fund for whenever I want to paint away from home, whether that be Venice, Italy or Queenstown, Tasmania.
What’s the one personal purchase you’d make if you had the money?
Lots of artworks. Van Gogh, Lucian Freud, Mary Tonkin, Lucy Culliton, Toulouse Lautrec, and also from emerging artists to help them along their career path. If I had oodles of money, I would set up an artists’ trust or art prize for painters.
Describe a difficult financial moment and how you managed that.
My dream was to run my own gallery – one that treated artists as they should be treated – and when I saw the perfect disused historic shopfront in Balmain [Sydney], I was in love. I called the real estate agent to ask about renting it but was told it was already taken. Later I was walking past and saw a man painting the walls inside the shop, so I said hello. He turned out to be the owner and we chatted about my dream. He rang the real estate agency and took a punt to give me the lease for a year. He told me later that my enthusiasm for my project and love for his building outweighed my youth, lack of experience and finance. I launched the gallery, Cameron Street Studio, I took in a housemate for the second bedroom, sublet the garage, took in ironing, cleaned houses, worked at a supermarket and was the gallery director, all while still doing my own art practice. I was never late with the rent and stayed three years.
If you ran the country, what would be your budget priorities?
A budget that re-educates our communities as to what has real value. The mantra that profits and populations should always increase is unsustainable. I would value job creation and products that are innovative and beneficial, rather than propping up companies that are known to cause environmental or social damage. I would remove the influence banks and big business have on political decisions.
What worries you most about your financial future?
Time and, along with that, health: there is no point having time if you are in pain or can’t be independent. Will I be able to afford medical treatment when I need it? If I was younger, I would have far greater financial fears as the changes wrought by climate change impact the world. Adaptability is so much easier if you have money to pay for it.
What’s one thing you spent a lot of money on that you don’t regret?
Getting a mortgage for my own home and going into debt was a scary thing but absolutely the right decision. I still applied my money management lessons, so, with the money the banks offered, I could have looked at houses in a higher price bracket, but I stuck within the lower range that I felt was more achievable. I took on a property that could be worked on over time and that would increase in value with some elbow grease. I found a modest fibro home with a stunning garden, with a stream at the base with resident platypus, and a separate two-storey building on one side for my studio. Heaven!
Visit Henrietta at henriettamanning.com
Email any questions you have about money to: hello@tonicmag.com.au
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