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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

Researcher at Qwaqwa Campus, Dr Aliza le Roux, selected as SAYAS member
2014-09-12

 

Dr Aliza le Roux

Dr Aliza le Roux, senior lecturer in the Department of Zoology and Entomology on the Qwaqwa Campus of the University of the Free State (UFS), was selected as a member of the 2014 South African Young Academy of Science (SAYAS). Dr Le Roux, a member of the Vice-Chancellor's Prestige Scholars Programme at the UFS, is also a South African National Research Foundation-rated (NRF) scientist (Y2) and the winner of the UFS Vice-Chancellor’s Excellence in Teaching Award in 2013.

She sees her selection to SAYAS as a unique opportunity to help change the face of science in South Africa. Dr Le Roux hopes to use her skills as project leader in social media, as well as her own learning experiences on a rural campus, to inspire especially ecological research in a country so rich in its own natural heritage.

The SAYAS selection committee was impressed by the high level of academic merit and depth of the nominations they received. “Your membership is critical in contributing to many of the vital activities and functioning of SAYAS, and we look forward to your active contributions to the further development and growth of the Young Academy,” said Prof Aldo Stroebel, Chair: SAYAS Selection Committee.

Prof Corli Witthuhn, Vice-Rector: Research at the UFS, said, “Aliza le Roux is an outstanding young scientist on our Qwaqwa Campus. She is not only an outstanding researcher but has also received prizes during the past year for her dedication to teaching. I am very excited about the young researchers on our Qwaqwa Campus with Aliza as one of the leaders, and I am looking forward to what else they can achieve in the next five years.”

In the past decade, Dr Le Roux focused her research on the cognitive and communicative skills of wild mammals in South Africa and Ethiopia. She spent four years as a postdoctoral research fellow at the University of Michigan, leading to ground-breaking research on the cognitive and communicative underpinnings of gelada monkey behaviour. Her current work encompasses an NRF-funded project on paternal care in bat-eared foxes, and experimental research on spatial cognition in wild samango monkeys. She is also involved in discussions with the Endangered Wildlife Trust to research the mitigation of road-kill incidents in South Africa.

Dr Le Roux hopes to combine cognitive ecology with more applied conservation questions in order to raise the profile of behavioural ecology as a discipline. She believes strongly in involving the public with scientific research, and has blogged for Nature Magazine on her adventures as field biologist. Her work has since found its way into numerous websites, magazine and newspaper articles and she has been interviewed on radio and BBC World.

Dr Le Roux will be inaugurated as SAYAS member on 14 October 2014.

Dr Marieka Gryzenhout from the Department of Plant Sciences is also a member of SAYAS.


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