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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

Soetdoring/Kagiso pair-up wins 2015 Stagedoor
2015-03-03

With a new format and residences mixing it up, the 2015 Stagedoor proved to be a success yet again, leaving Soetdoring and Kagiso with the spoils of victory.

Stagedoor (the annual first-year residence stage and serenade competition) saw a change of format this year where residences were combined to perform in a few number of outdoor venues for rotations.

Prior to this, Residence CoRC Cultures expressed much concern regarding the co-operation that might (or might not) be achieved with working with other residences. These were all early stage fears. However, as their preparations progressed there seemed to be a glint of light at the end of many groups’ tunnels.

Seven diverse and combined groups made it through to final, namely;

• Vishuis and Tswelopele,
• Karee and Armentum,
• Sonnedou and NJ van der Merwe,
• Soetdoring and Kagiso,
• Roosmaryn and Vergeert-My-Nie,
• Villa Bravado and Madelief, and
• and Veritas and Marjolein.

The finals proved that the efforts and sleepless nights of RC Cultures, first-years, composers, and other behind-the-scenes contributors can really make any situation work.

As always, the crowd was blown away by the musical and vocal talent of first-years, as some compositions gave the audience goose bumps, leaving them asking for more. All in all, the evening created a frenzy, causing residences to interact whereas they would have never done so before.

According to the Student Affairs’ Arts and Culture office, the aim behind the new format was to break the barriers between residences. Arts and Culture were also pleased as to with how the RCs worked around accommodating their partners and ensuring maximum co-operation, despite some challenges.

As the night neared its closeclosing, residences were chanting their names and showing their pride in their first years’ performances.

2015 Stagedoor final results:

1. Soetdoring and Kagiso
2. Roosmaryn and Vergeet-My-Nie
3. Vishuis and Tswelopele

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