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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

State-of-the-art physics equipment and investment in students result in academic success
2017-09-26

Description: State-of-the-art physics equipment 1 Tags: State-of-the-art physics equipment 1 

At the recent nanotechnology facility tour at the UFS,
were, from the left, Dr Mthuthuzeli Zamxaka, SAASTA;
Prof Hendrik Swart, Sarchi Chair in the Department of Physics;
and Xolani Makhoba, Department of Science and Technology.
Photo: Leonie Bolleurs

Nanoscience, which is revealing new properties of very small arrangements of atoms, called nanoparticles, is opening a new world of possibilities. The Department of Physics at the University of the Free State is undertaking fundamental research with potential commercial applications. Its equipment and expertise is giving solid state physics research the edge in South Africa.

The UFS team of researchers and students are passionate about studying planets and atoms, all under one roof. Recently, the department, in collaboration with the South African Agency for Science and Technology Advancement (SAASTA), hosted a nanotechnology facility tour to give the public, learners and the media the opportunity to familiarise themselves with the science of nanotechnology, its origins, potential applications and risks.

Successes of the department
According to Prof Hendrik Swart, Senior Professor in the Department of Physics, the increase in resources since 2008 is playing a big role in the success rate of its research outputs. The Sarchi Chair awarded to Prof Swart in 2012 (bringing with it funding for equipment and bursaries) also contributed to the successes in the department.

The UFS Directorate Research Development also availed funding that was used for bursaries. These bursaries made it possible for the department to appoint 10 post-doctoral fellows, not one of them originally from South Africa.

The investment in people and equipment resulted in researchers and students publishing some 80 articles in 2016. Their work was also cited more than 900 times by other researchers in that year.

Another highlight in terms of the department’s growth in the past 10 years is the new wing of the Physics Building. Physics at the UFS is the only place in sub-Saharan Africa where state-of-the art equipment is found under one roof.

Description: State-of-the-art physics equipment 2  Tags: State-of-the-art physics equipment 2  

Antonie Fourie, Junior Lecturer in the UFS Department of
Physics, explained to a group of delegates and
members of the media the workings of an electron beam
evaporation system.
Photo: Leonie Bolleurs

Application of research
The department is a unique research facility with equipment that includes the X-ray Photoelectron Spectrometer (for the study of atoms), the Scanning Auger Microscope, as well as the Ion Time-of-Flight Secondary Ion Mass Spectrometer (revealing the chemical bonds in a sample, and drawing maps of the positions of atoms).

One of the areas on which the department is focusing its research, is phosphors. Researchers are exploring light emitting diodes (LEDs) which use less energy, are brighter and provide a wider viewing field. They are also looking into LED displays (LCDs) which are used in flat screens – the phosphors create the different colours and backlighting.

The research on solar cells reveals that phosphors can increase their efficiency by increasing the range of light frequencies which can be converted into electricity. Glow-in-the-dark coatings absorb light in the day and emit it later so cells can charge at night. As glow-in-the-dark phosphors become cheaper and more effective, they can be used as a lighting substitute on the walls of houses, street numbers and stop signs.

Video production of the Department of Physics research and equipment

 

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