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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

UFS Council unanimously approves two senior appointments
2014-11-24

The Council of the University of the Free State (UFS) unanimously approved the appointment of Dr Lis Lange as Vice-Rector: Academic and Prof Sechaba Mahlomaholo as Dean: Education during its meeting on Friday 21 November 2014.

Dr Lis Lange is currently Acting Vice-Rector: Academic at the University of the Free State, where she holds a substantive position as Senior Director heading the Directorate for Institutional Research and Academic Planning (DIRAP). Prof Mahlomaholo is Head of the School of Mathematics, Natural Sciences and Technology Education at the UFS.

“These are two exceptional and trusted academics with international stature and I am delighted to welcome them as part of the senior leadership of the UFS. Dr Lange’s skills set pertaining to academic management and quality assurance make her one of only a few people with similar skills in the country, while Prof Mahlomaholo is a leading expert in community-based education,” says Prof Jonathan Jansen, Vice-Chancellor and Rector of the UFS.

Dr Lange joined the UFS in 2011. Before this, she was the Executive Director (2006-2010) of the Higher Education Quality Committee of the Council of Higher Education (CHE), and Acting CEO of the same organisation between August 2007 and April 2008. She has been involved in the development and implementation of science and technology and higher education policy in South Africa for a decade and a half, working in different capacities in the Human Sciences Research Council, the National Research Foundation and the Council on Higher Education. Dr Lange has served as a member of the board of the International Network of Quality Assurance Agencies in Higher Education (INQAAHE) and has participated in several international initiatives on quality assurance. She is the editor of an academic journal focused on the humanities, Acta Academica.

She has undertaken research and published in the fields of history, higher education and quality assurance. Her major concern in both research and practice is the role of higher education in the development of democratic societies, based on social justice. Dr Lange studied in Argentina, Mexico and South Africa, where she obtained a PhD in South African history from the University of the Witwatersrand.

Prof Mahlomaholo is a graduate of the Universities of the North, Western Cape and Harvard University in the United States. He is a National Research Foundation (NRF)-rated Professor of Education.

Before joining the UFS, he worked at six other universities where he was Deputy Dean in the Faculty of Education (UNIN-QwaQwa), Head of Professional Education (Vista University), Professor and Director of Research and Postgraduate Studies (MEDUNSA), Professor and Director of Curriculum Development (Central University of Technology), and Research Professor (North-West University).

His research interests lie in designing strategies mounted on Bricolage, Participatory Action Research and Critical Emancipatory Research as theoretical bases. He leads the NRF-sponsored project on the creation of Sustainable Learning Environments in schools. In this Participatory Action Research project, 28 PhD and 22 MEd students participate under the guidance of 15 academics. The project has relationships with the Global Network project (St Petersburg University), the Post-Colonial Education project (West Indies University) and the Discourse, Power, Resistance project (Plymouth University and now University of London). He has served as guest editor in the following ISI-indexed, peer-reviewed and accredited journals: the South African Journal of Higher Education (2010 and 2014), the South African Journal of Education (2011), Communitas (2012), the Journal of New Generation Sciences (2012), the Journal for Transdisciplinary Research in Southern Africa (2013) and the Journal of Education Studies (2013).

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