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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

UFS’ position on student politics
2011-09-01

The University of the Free State (UFS) welcomes politics on its campus. It especially invites students to participate in all the political activities on campus, ranging from seminars and debates on national and provincial politics, and organization within party political structures. Earlier the year, in the run-up to the Local Government Elections, a programme was run on campus with all political parties participating in public and radio debates with students on political issues.

A university must be a place for all kinds of ideas and organizations---social, cultural, religious, academic and, yes, political. The perception that the UFS has “banned” politics is simply not true, nor is it possible within a constitutional democracy.
 
The University of the Free State once again invites SASCO and any other political groupings that have not yet registered to participate in campus life, to do so as soon as possible. It is important to the UFS that all student bodies enjoy full participation in campus life, and that there exists a vibrant and exciting political life on the campus alongside academic, social, cultural and religious life.
 
The Student Representative Council (SRC) Elections at the UFS has been constituted on independent candidacy and non-party-political basis. This is a decision crafted and recommended by the Broad Student Transformation Forum, whose members are elected by students, and approved for implementation by the highest authority of the university, the Council. The decisions of the Student Forum entails that all students can nominate individuals for a variety of student leadership positions, which includes nomination for elective portfolios in the SRC elections, but also within nine sub-councils that hold ex-officio seats on the SRC.
 
The old system which restricted student leadership to representation on a party-political basis only (DA, ANC, Freedom Front Plus etc) no longer exists.
 
This decision of the Student Forum ensures that the rights of all students to directly elect their representatives are protected, and that the SRC in fact represents the student body as a whole and not particular interest groups alone. This decision enables ALL students to stand for and participate in campus politics in the SRC elections, though not on a party political ticket. In the 2011 SRC Elections, for example, SASCO members were indeed mandated by its local branch to stand as candidates for various elected positions, as did other political parties such as the DA Student Organisation, a development which the university welcomes. 
 
Most importantly, the UFS insists that all students participate in university life with respect for the rights of all students, irrespective of their social beliefs or political commitments. The UFS insists that no student or student grouping acts to disrupt campus life or insult university staff or denigrate fellow students on grounds of race, religion, language, gender, etc. This is very important to the UFS as it works to build a non-racial culture that respects our common humanity. Our students must learn that democracy and decency go hand in hand, and that part of learning at a university, is to learn to differ without resorting to a language of derision.
 
In short, the University of the Free State warmly welcomes full participation in politics, as in other spheres of student life, on all three its campuses.
 
Statement by Prof. Jonathan Jansen, UFS Vice-Chancellor and Rector.

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