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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

Prestigious Helgaard Steyn Prize to be awarded to UFS composer

2010-11-08

Hans Huyssen.

The composer Hans Huyssen, affiliated with the Department of Music at the University of the Free State (UFS), is to be the current recipient of the prestigious 2010 Helgaard Steyn Prize, the prize-winning work being Huyssen’s Proteus Variations (2006).Annually this award is administered and presented to a selected composer, painter, author, or sculptor by the Universities of the Free State and the North-West on a rotating basis. The judges for this year’s prize were Prof. Bertha Spies, Research Fellow, North-West University, and Professor Extraordinary, University of Pretoria, and Mr Noel Stockton, Senior Lecturer at the University of the Free State.

Hans Huyssen’s musical activities encompass the diverse poles of early and contemporary Western and African music, often in an attempt to assimilate the essential qualities from all these fields. His intense focus on contextuality suggests that he approaches music as a profoundly social force which has a particular role to play in our ‘new’ diversified South African society.

The Proteus Variations were commissioned by the Deutsche Welle Radio for the South African National Youth Orchestra 2006, and were premiered at the Beethoven Bonn Festival during 2006. These variations are described by the composer as “a musical representation of South Africa’s manifold Proteaceae”, named for the Greek god Proteus who, at will, was capable of assuming a spectrum of shapes and appearances. As the composer states: “It is worth noticing that a Protea is South Africa’s national flower. What could be more appropriate in providing a key to an opposite perception and understanding of the country’s diverse cultural expressions? In this regard it is my hope that the Proteus Variations may contribute a little to the wide scope of cultural responses necessary to begin to do justice to the extremely rich tapestry of our immediate cultural and natural surroundings”.

The prize of R170 000 will be awarded to Hans Huyssen by a representative of ABSA Trust, who is one of the trustees of the Helgaard Steyn Trust, in Bloemfontein on 8 November 2010.

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