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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

Lecture by Judge Albie Sachs: ‘Sites of memory, sites of conscience’
2015-03-23

Judge Albie Sachs

Human rights activist and former Constitutional Court Judge, Albie Sachs, will deliver a public lecture on the Bloemfontein Campus. The topic of his discussion will be ‘Sites of memory, sites of conscience’. This lecture will form part of a series that focuses on how the creative arts represent trauma and memory – and how these representations may ultimately pave the way to healing historical wounds.

The details of the event are:
Date: Thursday 26 March 2015
Time: 12:30
Venue: Albert Wessels Auditorium, Bloemfontein Campus
RSVP: Jo-Anne Naidoo at Naidooja@ufs.ac.za
A South African Sign Language interpreter will be present at the event.

Joining Judge Sachs on stage as respondent will be Dr Buhle Zuma, a young scholar and lecturer at the University of Cape Town's Psychology Department.

Expressing experiences of trauma
Judge Sachs is no stranger to the use of the arts as a way of expressing the inarticulable and overwhelming experiences of trauma. Targeted as an anti-apartheid freedom fighter, he lost his right arm and was blinded in one eye in a car bomb attack in 1988. As a judge of the Constitutional Court, he spearheaded conversations about the role of the arts in our constitutional democracy. This has led to the installation of some of the best artworks by South African artists at the Constitutional Court.

Vice-Chancellor’s Lecture Series on Trauma, Memory, and Representations of the Past
This lecture will launch of the Vice Chancellor’s Lecture Series on Trauma, Memory and Representations of the Past. It forms part of a five-year research project led by Prof Pumla Gobodo-Madikizela, funded by the Mellon Foundation. The event is hosted by the UFS Trauma, Forgiveness and Reconciliation Studies.

“One of the most remarkable aspects of trauma,” Prof Gobodo-Madikizela says, “is the loss of language, a moment of rupture that produces what some scholars have referred to as ‘speechless terror’. The arts, in all its forms – literary, performance, and visual – are a viable mechanism through which the unspeakable, traumatic past may be represented.”

These artistic forms of representing trauma are at the heart of this Vice-Chancellor’s Lecture Series. “We are interested not only in how experiences that transcend language are represented through the arts,” Prof Gobodo-Madikizela explains, “but also in probing the limits of trauma theory, and how the creative arts might be employed to bear witness in a way that may open up the possibility of healing.”

Dr Buhle Zuma
Former Mandela Rhodes scholar and one of the 2011 Mail & Guardian’s 200 Young South Africans, Dr Zuma is particularly interested in issues at the heart of our rainbow nation. His current research revolves around the question of freedom: what it means to be human for black people after centuries of dehumanisation, and the role of desire and fantasy in the political imagination of post-apartheid South Africa.

 

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