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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

Prof Helene Strauss delves into the emotion and politics of contemporary South African protest cultures
2014-12-22

Prof Helene Strauss from the University of the Free State’s (UFS) Department of English currently researches the relationship between emotion and politics in contemporary South African public and protest cultures.

The research foregrounds the complex set of concerns opened up by a study of intimacy, read as not simply a sign for emotional and sexual closeness, but more broadly as a complexly mediated site from which to observe the embodied, affective coordinates of various forms of control and contestation. Through the analysis of a range of cultural texts that, for instance, recompose moments of spectacular social upheaval through the lenses of everyday, embodied experience, this research considers what aesthetic responsibility might mean in both post-transitional South Africa and elsewhere.

One aspect of this research charts a gradual shift in South Africa from what is frequently referred to as the ‘liberation euphoria’ of the mid- to late 1990s – and the optimistic fantasies of a future South Africa that characterised dominant public discourse in the period immediately following the political transition – toward an emotional culture in which expressions of anger, disillusionment and disappointment seem to have become relatively widespread.

Prof Strauss asks, for instance, how these public feelings have been managed in the aftermath of events such as the Marikana massacre, and suggests that the affective and temporal dimensions of current attempts at containing perceived threats to financial and political stability on the part of South Africa’s business and political elite are key to understanding increasingly violent and repressive securitisation strategies.

Earlier this year, Prof Strauss presented papers on aspects of this research at two international conferences: (i) the Association for Cultural Studies conference in Tampere, Finland, where she was invited to be part of a ‘Spotlight Panel’ on the topic of African Cultural Studies, (ii) and at a conference at McMaster University in Hamilton, Canada, which she helped to co-organise.

An article based on some of this work has been published in the journal Safundi.

For more of Prof Strauss’s research published in journals, follow the links below:
http://www.tandfonline.com/toc/rsaf20/current#.VAf88_mSxqU
http://www.tandfonline.com/toc/riij20/15/1#.VAf80vmSxqU
http://www.palgrave-journals.com/sub/journal/v4/n2/index.html

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