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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

Environmental management – the answer to a sustainable green economy
2014-11-03



From the left are: Tshepo Moremi (Deputy Director-General), Mamotena Puleni (Personal Assistant to the Deputy Director-General) and Prof Maitland Seaman (Head of Department: Centre for Environmental Management).

Photo: Ifa Tshishonge

As part of celebrating 20 years of existence, the Centre for Environmental Management at the University of the Free State (UFS) hosted a public lecture themed, ‘The Future of Environmental Management’. Mr Tshepo Moremi, Deputy Director-General of the Department of Environmental Affairs and Tourism (Free State), portfolio Environment, Conservation and Tourism, delivered this lecture.

Mr Moremi said, “The environmental performance of South Africa must be seen in the context of our history and the country’s transition. South Africa has taken the lead in being a responsible global citizen, and we also participate in international projects in this field.”

South Africa hosts one of the richest biodiversities in the world. However, the country’s economy is still very energy - and carbon intensive.

“According to the World Health Organisation, approximately 16% of all deaths and one-third of diseases in children under the age of five years are environmentally related. Inadequate sanitation and indoor pollution are key factors,” Mr Moremi said.

“Academic institutions like the UFS and the government need to take the role of equipping citizens with skills and training so that we can overcome the challenges and seize opportunities related to the environment.

“Financing mechanisms for projects related to environmental sustainability were introduced in 2011. However, we still lack skilled capacity to run these projects smoothly and to use international and national funding strategically.

“Looking forward and responding to our challenges, it is vital that we transform our economy to be an international competitor and job-creation hub, and to be sustainably climate resilient, as outlined by the National Development Plan. Minimum standards will also be put in place to regulate emissions and monitor air quality. The sustainability of society’s well-being is important to the long-term role of environmental management in boosting our socio-economic status as a nation,” Mr Moremi said.

He emphasised that it must not only be about conserving and preserving. “Our people should benefit economically and socially,” he said.

Mr Moremi encouraged the audience to defend ideas that protect our non-speaking natural resources. “Let’s all do what we can and rise to this advocacy challenge,” he added. He also expressed his gratitude towards the university for honouring him during such a celebration and for working together in advocating for environmental issues.

The Centre for Environmental Management also hosted a strategic colloquium, discussing issues such as demography, resources, climate, water, environmental management, academic pursuance, as well as curriculum and the role of professional registration which may have an influence on the nature of its programmes.

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