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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.

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Bloemfontein Campus hosts annual HELTASA conference
2014-12-09

 

From the left are: Prof Francois Strydom, Director: Academic - Centre for Teaching and Learning, UFS; Dr Lis Lange, Vice-Rector: Academic, UFS; and Prof George Kuh, Adjunct Research Professor of Education Policy at the University of Illinois.

This year, the privilege to host the annual Higher Education Learning and Teaching Association of Southern Africa (HELTASA) conference was afforded to our university. The event took place on the Bloemfontein Campus from 18 – 21 November 2014, attracting keynote speakers and members from across the world.

HELTASA is a professional association mainly for educators and significant role players in higher education institutions. With its inception in the early 2000s, it has grown to become the premier organisation for teaching and learning in Southern Africa, Dr Amanda Hlengwa, President of HELTASA, pointed out.

A central concern of this body is issues around success within the tertiary sector. The theme of this year, ‘Accessing success: using evidence for change’ served to focus members’ attention on what works and what does not work – as derived from researched evidence.

In a message from Prof Jonathan Jansen, Vice-Chancellor and Rector of the University of the Free State (UFS), he stressed that the task as university teachers “is not simply cognitive gains that ensure graduation success but also intellectual gains that ensure success in life during and after university studies.”

The conference was led by internationally-acclaimed keynote speakers, namely Prof George Kuh, Prof William Grabe and Prof Fredricka Stoller, as well as our own A1 NRF-rated Prof Malanie Walker.

Prof Kuh is Adjunct Research Professor of Education Policy at the University of Illinois and Chancellor’s Professor of Higher Education Emeritus at Indiana University. In his keynote address, Prof Kuh offered valuable lessons from the field to promote student success.

Profs Grabe and Stoller collectively presented the second keynote address that explored how to set up students for success through strategic-reader training. Prof Grabe is Regents’ Professor of Applied Linguistics and Vice President for Research at Northern Arizona University. Prof Stoller is a Professor of English at Northern Arizona University, where she teaches in the MA-TESL and PhD in Applied Linguistics programmes.

Prof Walker is a Senior Research Professor at the UFS Centre for Research on Higher Education and Development (CRHED). She is also currently Director of Research Training and a senior researcher in the EU-funded Marie Curie EDUWEL project. In her keynote address, Prof Walker looked at well-being and agency in higher education.

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