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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

Shortage of quantity surveyors discussed at UFS

2006-03-24

During the recent visit of the Association of South African Quantity Surveyors (ASAQS) to the University of the Free State (UFS) were from the left Mr Egon Wortmann (Director: ASAQS), Prof Basie Verster (representative of the Free State on the ASAQS and head of the Department of Quantity Surveying and Construction Management at the UFS), Mr Greyling Venter (Chairperson: Free State branch of the ASAQS), Prof DG Brümmer(Vice-President: ASAQS) and Mr Patrick Waterson (President: ASAQS).
Photo supplied

Shortage of quantity surveyors discussed at UFS

“The South African building industry is experiencing an unprecedented high level of economic growth and prosperity. This is causing a definite shortage of registered quantity surveyors,” said Mr Egon Wortmann, Director of the Association of South African Quantity Surveyors(ASAQS) during the association’s recent visit to the Department of Quantity Surveying and Construction Management at the University of the Free State (UFS).

“This shortage is especially noticeable in local and national governments where unqualified and inexperienced staff, consultants and/or facilitators are now appointed,” said Mr Wortmann.

In doing so, the authorities that have adopted this approach are according to Mr Wortmann actually acting illegally and are not in compliance with the legal and statutory requirements of South Africa. “These unprofessional practices are unproductive, it leads to frustration and is strongly condemned by the ASAQS,” he said.

“The service delivery of these unqualified and unregistered service providers is often sub standard and does not comply to the legal requirements of the profession. It may also result in the tarnishing of the image and high professional standards set by the quantity surveying profession,” said Mr Wortmann.

“Universities offering programmes in quantity-surveying and construction management are also negatively affected by the high levels of activity in the building environment. Suitable lecturing staff are leaving the academic institutions as they are attracted to better opportunities being offered in the building industry. The ability of the tertiary institutions to attract young academics, to train them and to keep them in the longer term, is therefore almost impossible”, said Prof Basie Verster, head of the Department of Quantity Surveying and Construction Management at the UFS and representative of the Free State on the ASAQS.

According to Prof Verster the UFS supplies more than its quota of qualified quantity surveyors to the South African building industry. “Although more than 460 students are registered in construction related programmes at the UFS, we are as the ASAQS’s concerned about the shortage of students that can enter the construction industry. In our case, we are experiencing a shortage in black female students,” he said.

“Of the 460 postgraduate students, 38% are black of which 20% are female students. Graduates do also not necessarily stay in the country. As the UFS’s programmes are accredited overseas, a lot of our students leave the country for working opportunities elsewhere,” said Prof Verster.

Mr Patrick Waterson, President of the ASAQS, appealed to quantity surveyors to, when they are approached, consider academic careers or to make themselves available to lecture on a part time basis. “I also appeal to quantity-surveying practices, construction companies and developers to consider taking part in training activities,” he said.

The ASAQS has over the years developed a proud tradition within the quantity-surveying profession. Consequently membership of this organisation is a sought after goal for many members within the building environment. International agreements with various countries are also in place whereby it is mutually agreed that local as well as overseas qualifications are mutually acceptable on a reciprocal basis.

A more recent addition to the list of agreements is the reciprocity agreement entered into with the Royal Institution of Chartered Surveyors which makes it possible for South African based quantity surveyors to practice in over 120 countries worldwide.

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

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