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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.

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It's almost time for Rag procession 2012

2012-01-25

This year Rag is bigger and better.

This year’s Kovsie Rag of our universities Bloemfontein Campus promises to stand out head and shoulders above all previous years.

Kovsie Rag and Kovsie Community Service joined hands and is now known as Kovsie Rag Community Service.

For this reason, during this year’s Rag Procession in Heidedal and Mangaung, Kovsie Rag Community Service will distribute food parcels in this community.

The processions in Heidedal and Mangaung will both take place on Saturday 28 January 2012 at 10:00.

In Heidedal participants in the Rag Procession will distribute food parcels at the Twin City Shopping Centre and in Mangaung food parcels will be distributed at the Kenilworth Shopping Centre.

The programme for the Rag Procession is also well underway and first-years are eagerly building floats for this year’s Rag Procession on Saturday 28 January 2012

At 18:00 the main procession will start from the UFS and move to the final destination at Old Greys where DJ Black Coffee and Die Heuwels Fantasties will perform.

For the first time in Rag history, a Mr Rag will this year be crowned together with Miss Rag at the Crowning Ceremony Ball on Friday 3 February 2012.

The purpose of Kovsie Rag Community Service is to raise funds for charity and it is currently the biggest of its kind in South Africa.

“We are in the process of exceeding all expectations” says Pieter Badenhorst, Kovsie Rag officer.

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