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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

Award-winning architect firm presents the 29th Sophia Gray Memorial Lecture and Exhibition
2017-09-07

  Description: Arch break Tags: Sophia Gray Memorial Lecture and Exhibition, Elphick Proome Architects, South African Institute of Architects

At the Sophia Gray Bursary Fund breakfast, were from the left:
Henry Pretorius, head of the UFS Department of Architecture,
AJ Corbett, and Boipelo Morule, third-year student
in Architecture and Prof Francis Petersen, UFS Rector
and Vice-Chancellor, 
at the UFS
Photo: Stephen Collett

The laureates of this year’s Sophia Gray Memorial Lecture were George Elphick and Nicholas Proome from the award-winning architecture firm, Elphick Proome Architects (EPA). Over the past 28 years this Durban firm has received 26 awards and its work has been published in 26 magazines.  

From bedroom to boardroom
EPA is involved in major corporate architecture as well as several residential projects. It believes that good design is produced from careful study and research combined with sound technical knowledge and artistic judgement. At the 29th Sophia Gray lecture, presented by the Department of Architecture at the University of the Free State, EPA addressed the Bloemfontein community, stating that architecture was about people, space and light. 

For EPA, architecture is the form of art with the most impact on society. “Ultimately, our architecture needs to be enjoyed and be hard to forget,” it said. 

In its three decades of practice, most of EPA’s built work has been executed in South Africa. It has also completed projects beyond South African borders, including Mozambique, Kenya, Ghana, and France. 

The lecture was followed by the opening of the 29th Sophia Gray Memorial Exhibition at Oliewenhuis Art Museum.

New PhD in Architecture with Design announced
A highlight at this year’s lecture was the announcement by Henry Pretorius, the head of the department, of a new and innovative doctoral programme, the PhD in Architecture with Design. From 2018, students with a MArch (professional) or MArch can enrol for this postgraduate qualification.

“The programme recognises the intelligence and ingenuity of design. Its primary objective is to harvest and study the implicit orientations, operations, and achievements of design, and to enlist creativity in the formation of new knowledge. The degree facilitates analytical reflection, stimulates creative action, and opens new insights into the unique logic of design,” said Pretorius.

“Although design-based research has gained international momentum in recent years, similar research has not been done in South Africa until now.”

Contribution to the Sophia Gray Bursary Fund 
During a breakfast function, the department also announced another initiative, the Sophia Gray Bursary Fund. Prof Francis Petersen, Rector and Vice-Chancellor at the UFS, said that the type of architecture in developing countries was different from places such as New York and other big cities in developed countries. For a transformed profession we need architects from different cultures and demographics in the system. The bursary fund was a fantastic starting point for this to happen. 

The Sophia Gray Bursary Fund initiative is part of a greater call to alumni and friends of the department to be actively involved in the department’s continuous development and future endeavours towards imagination, care, and excellence.
AJ Corbett, founder and director of TCN Architects in East London, made the first contribution towards the fund. 

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