1970: How to Start an Art Collection on a Budget, No Overwhelm

**Farnoosh Torabi** (0:00)
So Money Episode 1970, How to Start an Art Collection on a Budget and Without Intimidation.

**SPEAKER_2** (0:08)
You're listening to So Money with award-winning money guru, Farnoosh Torabi. Each day, get a 30-minute dose of financial inspiration from the world's top business minds, authors, influencers, and from Farnoosh yourself.
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**Liz Lidgett** (0:34)
I may get some pushback from this, but I don't think that MFAs are really necessary anymore. I think they're incredibly expensive, and if you want to go get a master's, go get a business degree. Because the amount that is expected from artists, Farnoosh right before we were talking about as an author, you have to have so many skill sets that I am learning and taking in, some of which I had as a business owner and having to have a master of all trades sort of thing.
But really thinking about what is required of an artist these days, and part of that is marketing, understanding your financials. You can make big money as an independent artist, and I want you to make sure that you are saving for yourself, that you are really understanding what it takes to be an artist, what your overhead is.

**Farnoosh Torabi** (1:34)
Welcome to So Money, everybody. I'm Farnoosh Torabi. Our guest today believes art should be for everyone, not just collectors with deep pockets or insiders who get it. Liz Lidgett is the founder of a thriving gallery that champions emerging artists, many of them women, and she's built a great business around making art feel joyful, accessible and deeply personal. And now she's bringing that mission to her new book, Art for Everyone, a practical and empowering guide to finding your style, buying art with confidence and creating a home that actually reflects you. In our conversation, Liz and I explore why so many of us feel intimidated by the art world, how that's finally starting to change, and what it really takes financially and emotionally to start collecting. We talk about pricing, the myth of art as a guaranteed investment, the rise of artists as entrepreneurs, and even how AI is reshaping the way that we value handmade work. Here's Liz Lidgett.
Liz Lidgett, welcome back to So Money. And now I can call you Ms. Author, Ms. Liz Lidgett, author, author of Art for Everyone.
Congratulations.

**Liz Lidgett** (2:48)
Thank you, friend. Thank you. I'm so happy to be back and talking with you.

**Farnoosh Torabi** (2:52)
So a little backstory for our audience, those who may not have been listening to Liz's first appearance on the podcast during the pandemic or right after the pandemic, because I found you serendipitously through my own kind of process of trying to find art, living in a new home, a lot of bare walls. I love art, but it was the pandemic and you couldn't go to galleries, you couldn't go to flea markets or any of that stuff. So I was just on the internet trying to find art and I actually was delighted in the amount of art that was available, but it was so overwhelming. And then I found your site, which kind of captured really the essence that I was going for, which was joyful art, art by primarily women artists, affordable art, and that was like, you know, not pretentious, and like, but still meaningful to you. Yeah, there's something for everybody, whether you're looking for like a watercolor or a sculpture, or I got this really cool from your from your site, this like melted ice cream popsicle. Yes, tell me.

**Liz Lidgett** (4:05)
From Betty Anzenberger. Yeah, yes, yes, yes, yes.

**Farnoosh Torabi** (4:08)
It's like people love it. It's like in my entryway, people are always like, what? It is so amazing. So all this to say, audience, I discovered Liz in the pandemic and then got to really appreciate the business behind her work and brought her on the show.
We talked about the the world of art, the accessibility that you're really trying to bring to it and how to invest in it. And now you have this book. Tell us about why you wanted to capture your insights into this gorgeous book. I'm just going to hold it up here.

**Liz Lidgett** (4:41)
Thank you. Art for Everyone. I'm so proud of it. Well, first of all, thank you for saying all of that. I feel like their Instagram can be such an interesting place, but it has brought me together with some of the coolest people. And one of those people is you. And so I just feel really thankful that the Internet brought us together.