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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 Intravarsity – with a twist
2014-08-12

   

 

The battle of the campuses took place over the weekend of 8–10 August 2014 as our Bloemfontein Campus hosted our Qwaqwa counterparts for the 2014 Intravarsity.

This year the event provided some exhilarating twists to the usual competition. With the theme, ‘Made at Kovsies’, the programme made room for some new and innovative activities. The new setup may even become the format for future intra- and intervarsity events at Kovsies.

For those courageous of heart and daring of body, Vishuis offered the Gladiator games. This resulted in loads of competitive fun and entertainment. On a less physical level, this year also introduced the Kovsie Gaming League. The event presented an electronic sports tournament in which students could battle it out in a digital gaming environment.

The Ultimate Frisbee tournament guaranteed a host of awkward jumps, long stretches and hearts pumping furiously. In celebration of Women’s month, a Women’s Day Fun Run was also incorporated into the weekend.

It was not a case of out with the old, in with the new, though. The usual codes like soccer, volleyball, basketball, chess and table tennis still occupied their rightful places on the programme. But this time round, cultural activities also received a place in the limelight.

A Kovsie United Music Festival provided a safe social environment for students to enjoy themselves in – and scores of feet trampled into the Rag Farm . The two campuses also engaged in a healthy clash of words during the debating event.

Most will agree, though, that the best was kept for last. The Kovsie Sêr finals on Saturday night swept each and every one up in a wave of music and cheer. The Qwaqwa sêr group, Unspoken, made their mark during the evening as they delivered an inspired guest performance. 

The winners of the various events at the 2014 Intravarsity were:

  • Basketball – East College
  • Ultimate Frisbee – East College
  • Table Tennis – North College
  • Gladiators – South College (Ladies) and West College (Men)
  • Winners of Song – Central College
  • Winners of War Cry – Central College
  • Volleyball – South College (Men) and East College (Ladies)
  • Chess – West College and Qwaqwa
  • Soccer – South College (Men) and North College (Ladies)
  • Sêr – Veritas (Men) and Soetdoring (Ladies)

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