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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

Kovsies celebrate ‘model of humanity’
2013-07-19

 

Zelda la Grange
Photo: Sonia Small
19 July 2013

   Video clip (YouTube)

Photo gallery
UFS Mandela Day Pledge (pdf)
Zelda la Grange speech (pdf)

The University of the Free State (UFS) joined people around the globe in celebration of the fourth annual Nelson Mandela Day. Long-time Madiba confidant, Zelda la Grange, delivered the main address, inspiring the crowd with anecdotes gleaned from her intimate knowledge of the former president.

La Grange felt that the UFS as an institution can contribute greatly towards the upliftment of South African society.

“Your university has become what we hope for in South Africa – a transformed society whose purpose serves the greater good of humanity. Embrace and nurture what you have here under the leadership of Prof Jansen and his team. And influence society consciously, every day, in the same way as Madiba did for every day of the 67 years of his activism, and beyond.”

As UFS Vice-Chancellor and Rector, Prof Jonathan Jansen, aptly put it, the Kovsie celebrations aim to give thanks to Madiba as a ‘model of humanity’ and for what he has done for all South Africans.

Prof Jansen stressed that the importance of Mandela Day cannot be overstated.

"I think it is incredibly important because the real legacy of Nelson Mandela is that of a man who gave everything he had for the struggle to gain our freedom, our democracy and that we can get along as just human beings and not as a skin colour, a religion or as strangers," he said.

Events began with a clean-up operation by UFS volunteers, Zelda la Grange and the Bikers for Mandela Day, the Mangaung Metropolitan Municipality and other sponsors. The team cleaned areas in Heidedal and Manguang before returning to the UFS Bloemfontein Campus.

Kicking off the campus section of the programme, UFS staff and students formed a ‘human chain’ on the Red Square as part of a wider initiative which was the brainchild of Archbishop Emeritus Desmond Tutu – who was the main attraction of the 2012 Mandela Day activities at Kovsies.

The assembled ‘chain’ recited the UFS Mandela Day pledge, whilst snaking around the Red Square and the gardens surrounding the Main Building, before offering interfaith prayers to Madiba in honour of the 67 minutes of selflessness epitomised by Nelson Mandela Day.

To conclude the first part of the celebrations, the No Student Hungry campaign’s patrons, Mrs Grace Jansen and Dr Carin Buys, released symbolic doves and joined the chain in the singing of the national anthem.

Rudi Buys, Dean of Student Affairs, said that the symbolic chain showed the UFS community’s aim to “join together as a country and show our commitment to our people” on the special day.

Mangaung Metropolitan Municipality Executive Mayor, Thabo Manyoni, together with Prof Jansen, welcomed UFS staff and students to the main festivities which centred around a coin-laying ceremony in front of the Main Building. All proceeds of the coin laying are to be contributed towards the NSH. More than R83 000 was raised through the coin-laying ceremony and donations, more than double the amount of 2012.

The jubilant crowd was edged on by OFM presenter, Johrné van Huyssteen, who offered to preside as master of ceremonies free of charge as part of his 67 minutes.

Manyoni stressed that Mandela Day is a celebration and should be regarded as a joyous occasion. He said that Madiba’s ability to take action and inspire change, is the foremost aspect of his legacy, one all South Africans should strive to emulate.

“We should all be the champions in the areas where we are. There can never be another Madiba, but we should all aim to be smaller, better Madibas,” he said.

Zelda la Grange emphasised the life-changing influence Madiba has had on her own life, as well as South Africa in general.

“Mandela Day is a call to action for individuals, for people everywhere, to take responsibility for changing the world into a better place, one small step at a time, just as Mr Mandela did. It is a day of service,” she said.

According to her, certain key characteristics are responsible for Madiba’s vast reverence throughout the world, principles everyone should try to emulate. She mentioned his principles, simplicity, honesty, integrity, discipline and respect for other people even when opinions differ, as the foremost of these qualities.

La Grange also stressed that the goodwill shown on Mandela Day should not be limited to one day in a year, but that we should all strive to live each day according to these principles.

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