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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.

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Leah Tutu - from a humble heritage to a matriarch of devotion

2013-10-18

Leah Tutu
18 October 2013

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Leah Tutu Symposium: YouTube video

There are treasures in life, but owners are few
Of money and power to buy things brand new
Yet you can be wealthy and feel regal too,
If you will just look for the treasures in you …

The joy and the laughter, the smile that you bring;
The heart unafraid to love and to sing;
The hand always willing to help those in need;
Ones quick to reach out, to labour and feed.

So thank you for sharing these great gifts inside;
The caring, the cheering, the hug when one cried.
Thanks for the energy, encouragement too,
And thank you for sharing the treasures in you. (Author unknown)

With these words, Thandeka Tutu-Gxashe embodied the celebration in honour of her mother, Leah Tutu.

On Thursday 17 October 2013, the Annual Intercontinental Leah Tutu Symposium was launched at the UFS’ Bloemfontein Campus. Dignitaries and students alike flocked to the Centenary Hall where friends and family shared their immense love and respect for Ms Tutu.

Approaching the podium, Eunice Dhadhla (co-founder with Ms Tutu of the Domestic Workers Union) started humming and in an instant the audience had risen to their feet and the words “My mother was a kitchen girl. My father was a garden boy. That’s why I’m a unionist”, reverberated through the hall.

“I am what I am today because of her,” Dhadhla said of Ms Tutu. They have walked a long hard road together to ultimately unite domestic workers across the globe. Stretching her small body to its full length, Dhadhla imparted one of the most valuable lessons she has learned from Ms Tutu, “Stop crawling, stand up and walk for yourself.”

As soon as Dr Sindiwe Magona – acclaimed writer and poet – ascended the stage, her energy rushed across the room with electrifying intensity. Her high regard for Ms Tutu as public icon as well as a mother, wife and friend, was palpable. Belting out line after line of a poem she wrote especially for Ms Tutu, the audience echoed their agreement in a mutual exchange.
No sooner were they seated, than Archbishop Desmond Tutu and Prof Jonathan Jansen had the crowd roaring with laughter. Archbishop Tutu’s familiar chuckle peppered his story of how he came to propose to his wife. It was clear, though, how much he reveres Ms Tutu’s presence in his life. With enormous awe, he revealed her innate power, specifically during difficult times in our country’s past – from weathering death threats against her husband to public humiliation.

But despite adversity and heartache, in front of the Centenary Hall, this matriarch stood up and beamed joy into everyone present.

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