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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

First-year students encouraged to attend UFS welcoming function
2006-01-12

The University of the Free State (UFS) will host a welcoming function for all new first-year students and their parents on Saturday 14 January 2006 in the Callie Human Centre on the Main Campus in Bloemfontein.

The function starts at 11:00 and will be addressed by the Rector and Vice-Chancellor of the UFS, Prof Frederick Fourie. UFS staff will also be available to provide vital information to first-year students on academic matters.

According to Mr Vernon Collett, Registrar: Academic Student Services at the UFS, Saturday’s welcoming function can assist students and parents by providing vital information on the many high quality academic learning programmes on offer at the UFS in six faculties.

“If students and parents have this information it will make the registration process, which starts next week Tuesday 17 January 2006, much smoother,” Mr Collett said.

The UFS has split the registration process into various categories of students and Mr Collett appealed to all students to adhere to the dates and times which apply to them as a one-stop service will be available so as to avoid unnecessary delays in the registration process.

The registration of first-time entering first-year students who applied before 30 November 2005 to study at the Bloemfontein Campus will take place from Tuesday 17 January 2006 at the Callie Human Centre.

Senior undergraduate students (that is, students entering their second or later year of study) may register from 23 January 2006.

Postgraduate students, first-time entering first-year students and other students who applied for admission to the main campus after 30 November 2005 must register at the Callie Human from 2 February 2006. 

Late applications will be accepted until Wednesday 25 January 2006 at the Information Centre on the Main Campus’ Thakaneng Bridge. These applications will be regarded as pending and will be processed as places become available on the programme the student has applied for,” said Mr Collett. 

Vista Campus:
The Vista Campus in Bloemfontein – which was incorporated into the UFS in January 2004 – no longer accepts applications from first-year students. Such prospective students had to apply to the UFS Main Campus. Students who had been registered on the Vista campus last year must register at the Vista Campus on the same dates as applicable on the Main Campus.

Qwaqwa Campus:
At the Qwaqwa Campus of the UFS, all first-time entering first-year students must report on Thursday 19 January 2006, after which the registration of these students will take place according to a specific programme. The official welcoming functioning for new first-years at the Qwaqwa campus of the UFS will take place on Saturday 11 February 2006 at 08:00 in the Rolihlahla Mandela Hall on the Qwaqwa Campus.

Mr Collett appealed to first-year students who have applied to study at the Qwaqwa Campus and their parents to attend this function which fulfils the same role as the one held on the Bloemfontein Main Campus.

Detailed information on the dates and times of registration for the various faculties and academic learning programmes is available on the UFS website at www.uovs.ac.za. Prospective students may also call the Main Campus in Bloemfontein on (051) 401-3000 or the Qwaqwa Campus on (058) 718-5000 for more information.

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
10 January 2006

 

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