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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

IRSJ Research fellow embarks on historic ‘voyage’

2017-12-11

Prof John T Grider, making the maritime past alive again in the minds
of a new generation.
Photo: Eugene Seegers

Prof John Grider, Associate Professor of History at the University of Wisconsin-La Crosse in the USA and a Research Fellow in the Institute for Reconciliation and Social Justice (IRSJ) at the University of the Free State (UFS), has launched a book based on more than a decade of research into the Pacific maritime labour identity. His monograph, entitled A Foreign Voyage—Pacific Labour Identity, 1840-1890, delves into the history of the maritime industry, not only as a vehicle for expanding the processes of capitalism, colonialism, industrialisation, and globalisation, but is also exploring the impact of this industry on the shifts in gender, race, class, and technology.

As a student in Colorado, a homesick Grider tried to connect with his coastal roots via research. “Before I started to explore the maritime history, I thought of the ocean as a type of boundary that you sometimes need to cross. The truth is that globalisation happens on ships.” Prof Grider’s passion for Pacific maritime labour identity generates colourful discussions on the topic. Masculine sailors confronted by technological de-skilling that corroded away their identity, come to life as he talks and writes. “I try to show students that history is more than a story about the powerful few, and that everyday people, who may seem powerless, play a major role in shaping the past and the future.”

This monograph is based on first-hand, previously unpublished accounts of daily life at sea, often from ships’ logs and the diaries kept by the men who sailed them. The culmination of much painstaking research and supporting evidence, this book investigates the complex interplay between gender, class, and race sourced from the narratives of men who found themselves working in the transforming Pacific maritime industry during the mid-nineteenth century. A powerful lesson to be learnt from this fascinating segment of maritime labour history, is adaptability, “especially in today’s rapidly changing labour world”, Prof Grider says.

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