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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

#Women’sMonth: Who am I? Questions of identity among Rwandan rape survivors

2017-08-03

Michelle Nöthling, master’s degree student
in the Centre for Trauma, Forgiveness, and
Reconciliation Studies at the UFS.
Photo: Eugene Seegers

From 7 April to 15 July 1994, a mass genocide swept through Rwanda after years of Belgian colonial rule that divided the country along ethnic lines. Rape was also used as part of a political strategy to torture and humiliate mainly Tutsi women, and as a means of spreading HIV.

Individual focus
Why is it important to listen to what these rape survivors have to say? Michelle Nöthling, a master’s student in the UFS Centre for Trauma, Forgiveness, and Reconciliation Studies, responds, “We speak of groups – refugees, foreigners, and the like – yet we tend to forget the individuals and the lasting impact trauma has had on each person.”

Narrative exploration
Michelle maintains that we are the product of the narratives around us; things like – how to be a woman, how to dress, speak, or treat others. Her research delves into how these rape survivors see themselves, how they narrate their lives. She also investigates power relations based on gender; for example, how language can be used as a divisive tool.

Rwandan backdrop
In Rwanda, gender roles are deeply entrenched. Traditionally, a ‘girl’ remains such while she is a virgin. Her transition into womanhood is usually marked by marriage and followed by motherhood. But rape disrupts this structure, leading to an identity crisis as these girls are catapulted into motherhood with an unplanned child resulting from a traumatic event.

“We are the product of
the narratives around us.”

Reaching their mid-teens, the children, too, started asking questions about identity or paternity. For those mothers who were finally able to open up to their children, the experience has been mostly liberating – often leading to a closer relationship between parent and child. Michelle intends to interrogate how such significant moments shape the way these women perceive themselves. Research tends to portray these survivors solely as mothers of rape-born children. Michelle, however, seeks to examine their identities more deeply.

“These survivors still bear the heavy burden of being marginalised, stigmatised, and severely humiliated. Despite this, they have developed their own communities of belonging; people with whom they connect, to whom they relate, and to whom they are not ashamed to tell their experiences,” she said.

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