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Book bridges gap between mental health and money

01 November 2023 | Story Valentino Ndaba | Photo SUPPLIED

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 responds to revocation of the accreditation of the SA Doping Control Laboratory by WADA

2017-07-01

The World Anti-Doping Agency (WADA) yesterday informed the South African Doping Control Laboratory (SADoCoL) at the University of the Free State (UFS) that the WADA accreditation status of the laboratory has been revoked.

This revocation does, however, not include the analysis of blood samples for the Athlete Biological Passport for which SADoCoL has been re-accredited in August 2016 and which the laboratory will continue to perform. It also does not impact at all on the testing of urine sport samples by the South African Institute of Drug-free Sport (SAIDS), who will continue to send such samples for testing to other WADA accredited laboratories, while blood samples will be tested at SADoCoL as before.

The revocation follows a year long period of suspension in which the laboratory had to develop its analytical capabilities and instate new systems and methodologies. “In this period the laboratory worked diligently to realize all of these requirements and according to an inspection team from the WADA Laboratory Expert Group who visited the laboratory in February 2017, much has been done and the Laboratory is in a much better state than it was before the suspension in May 2016,” says prof Marthinus van der Merwe, Director of SADoCoL.

“However, there were certain aspects of these requirements that the laboratory could not achieve within the time-frame stipulated by WADA and therefore the organisation is bound by its rules and regulations to now revoke the accreditation status of the laboratory. Since much effort and resources have been invested in the laboratory in the last two years, the management of SADoCoL together with senior leadership of the UFS decided to go ahead and finalise all development in order to re-apply for WADA accreditation,” says prof van der Merwe.

“The UFS fully acknowledges the hard work of SADoCoL during the period of development and is committed to support the laboratory in its endeavors to re-attain its status within the very specialised and highly regulated community of world-wide doping control laboratories. The premium goal of the laboratory is still to fully serve the sporting community of South Africa and Africa according to the WADA guidelines for anti-doping control in Sport and it is confident to attain that with the support of all role players in this field,” says Prof Witthuhn, Vice-Rector: Research at the UFS.

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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