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01 November 2023 | Story Valentino Ndaba | Photo SUPPLIED
Dr Prince Sarpong
Dr Prince Sarpong, Senior Lecturer in the School of Financial Planning Law at the University of the Free State.

As we deepen our understanding of the connection between money and psychology, financial therapy has gained popularity as a field of study. During World Mental Health Awareness Month, it was essential to delve into practical guidance for financial therapists, as well as for financial planners and mental health practitioners who are integrating financial therapy into their practice.

Dr Prince Sarpong, Senior Lecturer in the School of Financial Planning Law (SFPL) at the University of the Free State, and Prof Liezel Alsemgeest, Director of the SFPL, recently edited and published a book titled: Perspectives in Financial Therapy. Other academics from the SFPL who contributed to the book include Dr Rika van Zyl (Senior Lecturer) and Henda Kleingeld (Lecturer). 

Perspectives in Financial Therapy 

Published in July 2023, Perspectives in Financial Therapy aims to contribute to the body of knowledge in financial therapy. Both academics and practitioners in the mental health, financial planning, and related fields recognise the increasing prevalence of money-related psychological distress.

According to the editors, the primary target audience for this 14-chapter book includes academics and practitioners in the fields of financial therapy, financial planning, financial counselling, financial coaching, and mental health, as well as undergraduate and graduate students in these fields.

Mental well-being and financial matters

In Chapter One, Dr Sarpong begins by taking a close look at the developing field of financial therapy. He then investigates Models, Resources, and Tools Applied in Financial Therapy in Chapter Four. In this chapter, Dr Sarpong provides discussions on “the identified money scripts and money disorders in financial therapy, and on some of the main models, tools, and resources employed in financial therapy. The models in financial therapy are adapted mainly from the broader field of psychology and financial planning and can be employed by financial planners, financial therapists, and mental health professionals in helping clients to resolve their money-related distresses”.

Understanding generational differences is a crucial part of financial therapy. in Chapter Seven, Prof Alsemgeest touches on how each of the generations develops and distinguishes itself from other generations through shared social and historical life experiences. She added, “The chapter stresses that in the practice of financial therapy, it is important for practitioners to understand how each generation’s attitudes, perceptions, and behaviours around money were shaped, in order to be able to create rapport with a diverse group of clients.”

Comprehensive perspective on financial therapy

The book also delves into various other topics, including the brain and financial decision-making; practical application of neuroeconomics in financial planning; decolonising assessments in financial therapy from an African context; challenges, benefits, and implications for online financial therapy; couples and financial therapy; planning for and surviving divorce; rebuilding a stable emotional and financial foundation after divorce; therapeutic jurisprudence and estate planning; the limitations on freedom of testation, allaying estate planning fears through trusts; as well as a critical appraisal financial therapy.

News Archive

UFS research project aims to stimulate reflection on theological studies
2017-06-20

Description: Book, Theology and post Apartheid condition  Tags: Book, Theology and post Apartheid condition

The first book in the ‘UFS Theological
Exploration’ academic series, called Theology
and the Post(Apartheid) Condition
, has just
been released.
Photo: Supplied

 

The first study book with the title Theology and the Post(Apartheid) Condition, which is part of a new academic series by the Faculty of Theology and Religion at the University of the Free State, is now available. Volume 1, compiled by Professor Rian Venter as editor, is the first book in the ‘UFS Theological Exploration’ academic series, which the faculty plans to release.

Transformation
Professor Venter says the transformation of processes and practices in communicating and creating knowledge has become an urgent task for public universities in a democratic South Africa. Much reflection has already gone into the methods and scope of transformation in higher education.

Although the faculty has done work on the implications of this for theology, there is one area of investigation that has not received much attention. It concerns the role of theological disciplines such as Old and New Testament, Missiology and Systematic Theology and Practical Theology, and specifically the relationship between academic disciplines and societal growth. The book focuses on these challenges and contains the intellectual undertakings of the contributors who are all lecturers, research fellows and post-graduate students linked to the faculty.

The questions
The key questions addressed are: what are the contours of the (post)apartheid condition and what are the implications for responsible discipline practices in theology. Professor Venter says the chapters in the book are logically arranged and moves from wider to more specific concerns. The first three chapters suggest broad perspectives on the challenges for theology in higher education, chart the changes, and make some suggestions for the future.

A dynamic field of study
The book states that theology has already experienced profound and radical changes over the past decade, which is known to us. All the chapters demonstrate these fundamental shifts, which have taken place in all theological sub-disciplines. Professor Venter says the contributions in the book illustrate that theology is a dynamic field of study, and is pursued with enthusiasm and commitment. Not all disciplines in theology are investigated for the book. However, the studies reflect the interests of the theologians in the Faculty of Theology at the UFS. Professor Venter hopes that the volume might stimulate further reflection of a similar nature by other theologians.

New insights
Through the ‘UFS Theological Exploration’ research series, the faculty hopes to stimulate new insights and new developments in academic progress and overall human growth. Series editor Professor Francois Tolmie says it is a fact that strong university research is necessary to achieve academic progress and advance human prospering. He says the faculty's research series will make a valuable contribution to these causes. Professor Tolmie says the ‘UFS Theological Explorations’ contains research of the highest academic standard which has been peer-reviewed to make significant educational contributions to core theological issues in South Africa and overseas.

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