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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

ANC Centenary Seminar looks at the role of women in the liberation struggle

2012-03-22

At the ANC Centenary Seminar were, from the left: Nadine Lake, ProgrammeDirector: Gender Studies, at the UFS; Prof. Hassim; Zubeida Jaffer, Writer-in-Residence at the UFS; and Senovia Welman from the UFS-Sasol Library.
Photo: Amanda Tongha
22 March 2012

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“Looking back at the history of South African politics you will always find women involved in that history.”

This is according to Prof. Shireen Hassim, a professor in Political Studies at the University of the Witwatersrand, who recently spoke at an ANC Centenary Seminar, held on the Bloemfontein Campus of the University of the Free State (UFS). The seminar is part of a series of dialogues hosted by the Centre for Africa Studies about the ruling party’s 100 years of existence. It was the first one to be held following the 100 year celebrations of the ANC in January 2012 and was dedicated to the ANC Women’s League. Prof. Hassim told the audience that from early roles as wives who provided catering and entertainment, women have always been politically active in the African National Congress (ANC).

“ Women took the lead in the defiance campaign, going beyond the role of tea lady of the 1910s. When the ANC went into exile, the women’s section, as it was called then, played an important role.” Prof. Hassim also praised independent women’s organisations for the role they had played during the struggle and added that they were part of the collective history.

Talking about today’s Women’s League, Prof. Hassim said there had been debate about its current role with some critics labelling the league conservative. “In recent years, they have become very allied to internal battles.”

According to Prof. Hassim, a new language was needed that could give voice to the policies that needed to be developed.She drew attention to the plight of rural women, saying that thus far urban women have been taking the lead in defining issues. She warned that legislation like the Traditional Courts Bill would put rural women at a disadvantage. Prof. Hassim said the Bill was not rigorously debated, despite the high number of women in Parliament.

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