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Book bridges gap between mental health and money

01 November 2023 | Story Valentino Ndaba | Photo SUPPLIED

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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But do you forgive yourself, Eugene de Kock? asks Candice Mama

2015-03-16

From the left are: Prof Pumla Gobodo-Madikizela, Candice Mama and Prof André Keet, Director of the UFS Institute for Reconciliation and Social Justice.
Photo: O'Ryan Heideman

Candice Mama: Audio

Candice Mama and her family met with her father’s assassin. Eugene de Kock. Prime Evil. Commander of the apartheid government’s covert Vlakplaas police unit. And what followed from this meeting was one of our country’s most poignant gestures of reconciliation. One by one, each family member expressed their forgiveness of De Kock, and soon afterwards, he was granted parole.

Candice recently visited the Bloemfontein Campus to talk about ‘An Unexpected Encounter with Eugene de Kock: A Journey of Transformation’. The event was a collaborative effort between the Institute for Reconciliation and Social Justice and Trauma, Forgiveness, and Reconciliation Studies.

“What makes it possible to cross the boundary from loss and pain to bond with the person who hurt you?” Prof Pumla Gobodo-Madikizela, asked Candice. “I had to educate myself about the when, where, and how, to get a context for Eugene de Kock,” she answered. With the encouragement of her mother, Candice became an avid reader from an early age. She devoured information, so that she could build a picture of this man within a specific historical and political context. What also contributed to this moment of reconciliation for her was De Kock humbling himself and taking full responsibility for his actions.

This meeting was not without inner conflict for Candice, though. “Why am I crying for hím?” she asked herself as she listened to him speak. “Why am I laughing?” she chastised herself as De Kock preened shyly for a group photograph with the family. “Is there something wrong with me to connect with him?” She questioned her values and beliefs. But instead of a monster, Candice saw the true essence of a repentant human being.

But how do you know he didn’t fake it, many people asked. Because it was “one of the most sincere and honest encounters I’ve experienced,” she said. During their meeting, Candice saw a man “crushed by the world”. Everything he believed as a young man, he realised, was a lie.

“Do you forgive yourself?” Candice asked the one question De Kock feared most. And in that moment, he was humanised for her. “When you’ve done the things I’ve done,” De Kock replied, “how do you forgive yourself?”
It remains an open question. But this act of forgiveness gives an entire country hope.

For more information or enquiries contact news@ufs.ac.za.

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