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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

DF Malan – the politician, the man and Lindie Koorts’ award behind it
2014-04-30

 
Lindie Koorts
Photo: Hannes Pieterse
Sometimes fact is stranger than fiction. In this case, it is not only true, but fact is stirring up more of a buzz than make-belief does.

The first biography of an apartheid Prime Minister written since 1994, won an award at the 2014 Woordfees. ‘DF Malan and the Rise of Afrikaner Nationalism’ is the title of the book causing this national whirlwind. The author: Lindie Koorts – a postdoctoral fellow at the UFS’s Centre for Africa Studies.

She admits she was among the most surprised when she won the category for Debut Writers. “This is, as far as I know, the first time this prize goes to a non-fiction writer,” Koorts said.

What started as curiosity around DF Malan, four years later culminated in an objective biography devoid of justification or exoneration. “Throughout the process of writing, I offer the facts, but I do not clamber in with moralistic judgements,” Koorts said.

In addition to Malan the politician, Koorts discovered Malan the human being as well during her research. When she stumbled on his hand-written love letters to Maria Louw, which he wrote when he was in his 60s, a totally different man emerged. “I felt like a teenager while reading those letters!” Koorts laughed.

In the chapter entitled Coalition and Fusion, this dynamic historian unearthed a fact that had the power to change the course of history. Up until this point, the belief was held that one party deceived another. However, Koorts’ research proves that the entire issue rested on a letter that did not arrive on time. A case of tardy train schedules and a mere misunderstanding.

“To be able to unravel these things makes one feel that you have succeeded in something,” she said.

Not only did she succeed in writing an award-winning biography, she surely will be making history as she goes.

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