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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

Art on Disasters to heal communities
2014-05-27

 
Fadzai Nyamusamba showing interest in the work: "Working on fire". This artwork was painted and donated by Mariette Pretorius, a professional artist from Bloemfontein. This art piece will be displayed at the South African National Disaster Management Centre in Pretoria.
Photo: Supplied
The Disaster Management Training and Education Centre for Africa (DiMTEC) at our university, recently launched its Art on Disasters initiative at the Gallery on Leviseur in Bloemfontein. 

Disasters have a devastating effect on societies and are accompanied by fear, uncertainties and often post-traumatic stress disorders. The creative arts have the ability to comfort survivors and those affected by tragedy. Amid disaster, art serves as a memorial, aids in the healing process and helps these communities to interpret their emotions. 

This is precisely the main focus of the Art on Disasters project. It aims to develop paintings, sculptures, dramas, theatre productions, poetry and music in collaboration with artists. These productions will then be presented to communities at risk of, or affected by, disasters, to create awareness and foster healing. 

Furthermore, the initiative will conduct research on art as a form of therapy and co-ordinate rehabilitation experts to assist the relevant communities. The artworks collected by the project, will be sold or auctioned to help raise funds. The proceeds will then be donated to a worthy cause as part of DiMTEC’s commitment to community service. 

The project will help console and heal communities and aspire to generate greater resilience to trauma. It will also give humanitarian workers the opportunity to advocate for disaster risk reduction and offer them an opportunity for psychological debriefing after attending to affected communities. 

“We will collect different categories of art related to all forms of disasters. These include paintings, photography, sculptures, poetry, music, theatre productions and short stories,” said Dr Andries Jordaan, Director of DiMTEC. “Stephanie Peters, Thomas Hart Benton, Tania Kovats and Medhi Naimi are just a few of the many artists that paint on man-made and natural disasters. They are artists that believe in art therapy as a form of self-expression, well-being and recovery,” he added. 

For more information about this initiative, or to possibly contribute as an artist, please contact Olivia Kunguma from DiMTEC on +27(0)51 401 9699 or kungumao@ufs.ac.za .

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