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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

Students excel in legal interpreting programme

2010-02-24

Prof. Ezekiel Moraka, Vice-Rector: External Relations at the UFS with one of the students who received a diploma.
Photo: Mangaliso Radebe

A success rate of 90% was achieved by the first group of 100 students that successfully completed the two-year Diploma in Legal Interpreting at the University of the Free State (UFS).

The group recently received their diplomas at the ceremony held on the Main Campus in Bloemfontein.

The programme, offered by the university’s Department of Afroasiatic Studies, Sign Language and Language Practice, in collaboration with the Department of Justice and Constitutional Development and Safety and Security Sector Education and Training Authority (SASSETA), is the only one of its kind in South Africa.

“The numbers that we are talking about here, if one looks at the needs of the country as such, is a small fraction,” said Advocate Simon Jiyane, Deputy Director General: Court Services in the Department of Justice.

“This is our first programme in collaboration with the UFS and I am hopeful it will lay a very solid foundation for other such programmes to follow.”

The diplomas were conferred by Prof. Ezekiel Moraka, Vice-Rector: External Relations at the UFS, on behalf of the Rector and Vice-Chancellor, Prof. Jonathan Jansen.

He urged the students to use their skills as qualified court interpreters in the context of the challenges that face South Africa such as HIV/Aids, racism, transformation, unemployment, poverty, job losses, and many other such challenges.

“This is the reality we are faced with, all of us,” he said. “It requires skilful and morally upright people to address it adequately and effectively. You are adding up to the number of skilful people in our country and that means you have a critical role to play.”

He said the UFS, as a societal structure, is equally affected by those challenges because of being accountable to and economically dependent on society.

He also urged the students to use their skills to make contributions to the processes of transformation that are underway at the UFS.

“For instance, the UFS as a national asset has to transform to that level of being a true national asset. We need your full participation in this process so that we can together ensure the relevance of this university as a true South African university,” he said.

Advocate Jiyane urged universities to also look at some of the initiatives that the government takes to improve service delivery. One such initiative is a pilot project focusing on the use of indigenous languages in courts.

“Its aim is to ensure that our courts begin to recognise all official languages in terms of conducting their business,” he said.

“It is our responsibility as a department that, through this project, we begin to build those languages so that they are on a par with the other languages that are being utilised in our courts.”

The department has permanently employed two of the students who received their diplomas, while one of them, Ms Nombulelo Esta Meki, was awarded a bursary by SASSETA to study for a BA in Legal Interpreting. Ms Meki was the top achiever of the programme with an average of 86%.

Media Release:
Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt@ufs.ac.za
3 March 2010

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