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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

UFS academic delivers inaugural lecture on challenges confronting political science in the 21st century

2012-10-12

Prof. Hussein Solomon.
Photo: Stephen Collett
12 October 2012

Full version of the lecture

This week Prof. Hussein Solomon, Senior Professor in the Department of Political Studies and Governance delivered his inaugural lecture on the Bloemfontein Campus of the University of the Free State (UFS).

In his lecture, “Challenges confronting political science in the 21st century, A South African perspective”, Prof. Solomon explored five challenges to academic political science in general and to South African political scientists in particular.

The challenges include the need to localise international relations theory with an emphasis on the emancipatory dimensions; exploring the nexus between technology and politics; incorporating political anthropology into mainstream political science syllabi; rising to the challenge of governing Africa’s cities; and the dangers of over-specialisation in an era that demands the use of a broader academic lens.

According to Prof. Solomon, political science has come a long way from those heady days in 1950 when Lasswell could confidently state that politics was about who gets what, when and how.

“Indeed, the world of 2012 scarcely resembles the world of 1950. Immanuel Wallerstein was correct in his assessment that the modern world system is coming to an end. As political scientists, we need to interrogate our existing knowledge constructs in relation to this rapidly changing reality. We need to indigenise international relations theory and emphasise creating an emancipatory and counter-hegemonic discourse.

We need to explore the nexus between technology and politics to deepen our democracy by empowering the margins in our societies. We need to embrace political anthropology as we strive to understand non-Western forms of governance. We need to use these understandings of traditional societies as we create hybrid forms of urban governance that stress inclusivity as we overcome the politics of identity and difference. We need to heed the call of De Tocqueville and create a new political science to understand the new times by supplementing disciplinary insights with those from other disciplines. In doing so, political science will once more regain its relevance to humanity in the twenty-first century,” Prof. Solomon said.

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