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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 to accredit providers of Off-Campus Accommodation to students in Bloemfontein
2017-06-30

The University of the Free State (UFS) has embarked on a process to accredit off-campus accommodation service providers in Bloemfontein who provide accommodation to its students.

“The decision to accredit off-campus accommodation service providers comes from a concern from the university management about the safety of students and the conditions under which some of our students live in off-campus accommodation. Student accommodation is a significant aspect of the success of the UFS and consequently good quality accommodation is important for each individual student to be successful in his/her studies,” says Mr Quintin Koetaan, Senior Director: Housing and Residence Affairs at the UFS.

The accreditation process entails a list of primary requirements, drafted with the cognisance of the Mangaung Metropolitan Municipality, in terms of off-campus accommodation to which private providers must adhere in order to be accredited by the university. The requirements are in line with the Policy on the Minimum Norms and Standards for Student Housing at Public Universities (Government Gazette 39238, dated 29 September 2015).

According to Koetaan, the norms and standards as set out in the policy establish the foundation and assessment criteria for such accreditation of service providers by the UFS. “It has become necessary for the UFS to have a policy on off-campus accommodation, in order to protect the rights and interests of our students and that of the university,” says Koetaan.

Some of the primary requirements for accreditation by the UFS include the number of students that may be accommodated in each room, the quality of kitchens and kitchenettes, the number of ablution facilities, the existence of common rooms and house rules, general maintenance and cleaning, compliance with  relevant national, regional, and municipal legislative requirements regulating health and safety, provision for adequate access to the facility/establishment in case of medical and/or psychological emergency assistance being required by students, and the provision for access to emergency electricity and water facilities. Off-campus private accommodation service providers must also be in possession of approved Municipal building plans of their student accommodation facilities, as well as evidence confirming their compliance with these plans.

“Landlords and agents are also advised to become more involved in their student homes and to ensure that their properties are in good condition and secure enough for students to live in,” says Koetaan.

Off-campus private accommodation service providers have until 31 July 2017 to apply for accreditation. More information and application documentation for accreditation can be obtained by sending an email to housing@ufs.ac.za

Released by:
Lacea Loader (Director: Communication and Brand Management)
Telephone: +27 51 401 2584 | +27 83 645 2454
Email: news@ufs.ac.za | loaderl@ufs.ac.za
Fax: +27 51 444 6393

 

 

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