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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

Student rights revived
2015-03-30

Lindokuhle Ntuli fulfils his promises.

“I can assure you that each and every promise that I’ve made to the students will be fulfilled.”

That is a promise that Lindokuhle Ntuli, SRC Legal and Constitutional Affairs (Bloemfontein Campus) gave to Kovsie students. The fourth-year LLB student and founder of the UFS Legal Behemoth describes himself as an ambitious person with a passion for law, order, and formality.

He explains the duties of his portfolio as “the office that will really ensure that the interests of all students are catered for. That student’s consumer rights are respected and not violated.” Through his portfolio, he aims to make sure that students are aware of what their rights are.

As part of his portfolio, Ntuli has re-introduced the Student Court, which will be fully functional during the second semester. The portfolio also introduced the Student Engagement Forum.  The purpose of the forum is for students to share their grievances with regards to student rights violations. These discussions will take place twice a semester.

“The student engagement forum is the means by which we are able to really assess what kind of rights of the students are being violated,” Ntuli added.

Together with Louzanne Coetzee, SRC Accessibility and Student Support, Ntuli aims to establish the Student Rights Desk. The desk will deal directly with student rights on campus without recourse to the student court or external courts.

When asked about what his vision for the SRC is, Ntuli responded:

“My vision for the SRC is to see the SRC really attending to each and every need of students. We must advocate for students in the best way we can.”

And the words Lindokuhle lives by?

“Law and order exist for the purpose of establishing justice, and when they fail in this purpose, they become the dangerously structured dams that block the flow of progress” (Martin Luther King Jnr).

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