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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.

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Memorial lecture: Repositioning of the Free State Provincial Government
2005-08-29

The repositioning of the Free State Provincial Government to respond to the 21st century demands is the topic of the University of the Free State’s (UFS) JN Boshoff Memorial Lecture that takes place on campus next week.

The lecture will be delivered by Dr Charles Nwaila, Director-General of the Free State Provincial Government and Vice-Chairperson of the UFS Council and will take place on Thursday 8 September 2005 at 18:00 in the CR Swart Auditorium on campus.

The title of the lecture is Free State Government repositioning itself to respond to the 21st century demands with special focus on the human capital edge.

Dr Nwaila obtained his BA in 1984 at the University of the North, his BA Honors (English) in 1987 at Wits University, his MA (English) in 1990 at Durham University (UK) and D Litt (English) in 1997 from the University of Pretoria.  

Dr Nwaila is also Chairperson of the Forum of Heads of Departments, Governance and Administration and Secretary of the Executive Council.

Previously, Dr Nwaila was the Superintendent-General of the Free State Department of Education from 2002 to February 2005. Dr Nwaila also served in government as Chief Director in the Gauteng Department of Education. Dr Nwaila is highly experienced and his career includes serving as a headmaster in rural and urban schools, lecturer at the Soweto College of Education, and supervisor at ABET centres.

Enquiries can be directed to Ms Joan Nel at (051) 401-9301.

Media release

Issued by:  Lacea Loader
   Media Representative
   Tel:  (051) 401-2584
   Cell:  083 645 2454
   E-mail:  loaderl.stg@mail.uovs.ac.za

29 August 2005

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