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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

2014 Winter Graduation
2014-06-27

 
It is time for the 2014 Winter Graduation on our Bloemfontein Campus. From 2 – 4 July 2014 Masters and Doctoral degrees will be bestowed on graduates from across all seven faculties as well as the School of Open Learning. These include the conferral of Medicine degrees on the South African Cuban trainees.

Wednesday 2 July 2014 at 14:30: School of Open Learning
The School of Open Learning will confer a total of 609 degrees this year – almost double compared to the 320 of last year.

Thursday 3 July 2014 at 09:30: Faculty of Natural and Agricultural Sciences
Prof Magdalena Blum will receive an Honorary Doctorat, DPhil honoris causa, at this event. Prof Blum is an Extension Systems Officer in Rome. She works for a specialised agency of the United Nations called the Food and Agriculture Organization. This organisation’s mandate is:
• to improve nutrition,
• increase agricultural productivity,
• raise the standard of living in rural populations and
• contribute to global economic growth.

Her position serves to modernise and strengthen rural advisory services, their systems and networks worldwide. She has filled this position for almost nine years.

Prof Blum is driven by a passion for development, humanitarian work and female upliftment, but most of all, to enable people to help themselves.

Blum’s life has taken her from a small German village to Africa, Asia and Europe – and she has made an impact wherever she went.

Thursday 3 July 2014 at 14:30: Faculties of Economic and Management Sciences, Humanities, Education, Health Sciences, Law and Theology
At this ceremony, Faculty of the Humanities will award an Honorary Doctorate, DPhil honoris causa, on Prof Laura Mulvey. She is a feminist film theorist and worked at the British Film Institute for many years. She is currently a professor at Film and Media Studies at Birkbeck, University of London.

Prof Mulvey was prominent as an avant-garde filmmaker in the 1970s and ‘80s. In collaboration with her husband, Peter Wollen, she co-wrote and co-directed:
• Penthesilea: Queen of the Amazons (1974),
• Riddles of the Sphinx (1977, perhaps their most influential film),
• AMY! (1980),
• Crystal Gazing (1982),
• Frida Kahlo and Tina Modotti (1982), and
• The Bad Sister.

In 1991, she returned to filmmaking with Disgraced Monuments, which she co-directed with Mark Lewis.

Friday 4 July 2014 at 10:30: Special Graduation Ceremony
Conferral of Medicine Degrees on the South African Cuban trainees at the UFS

Live streaming will be available on: http://www.ufs.ac.za/ufslivestreaming/

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