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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

Kovsie TV Launched
2015-05-06

Victor Ngubeni, Grace Thoabala, Nangamso Dlatu, Aisha Poswa, Lesego Maakamedi, Nothando Hlope, Aldene vd Merwe and Lawrence Siyoko

“We have to change our university before we can change our country.”

 

There is a revolution at hand, and students are requesting new and exciting platforms on which they can voice themselves. Kovsie TV aims to do just that for Kovsie students. 

 

As a student initiative, the steam behind it is SRC Student Development and Environmental Affairs, Victor Ngubeni. He says that it is only right that it be by the students themselves. The launch saw many from the campus community gathered out of curiosity and excitement for the new venture. The evening started out as quite a classy frenzy, which had attendees clearly prepared for the level of broadcasting that the launch would showcase.

 

The initial idea is to increase the number of platforms where students can receive information. The Student Media portfolio, which oversees the functioning of student media platforms, aims to make Kovsie TV as autonomous as possible. As an introductory initiative, it will aid in the sharing and telling of students’ stories.

 

It is important to mention the preparation process that was endured by the many hopefuls who auditioned, hoping to make it as one of the Kovsie TV presenters. For more than three weeks, the panel of judges sieved through the contestants until they had just six rough diamonds. Then, for the first time, the audience met the faces that they would become familiar with from this point.

 

As Ngubeni stressed during his speech, Kovsie TV would not serve as propaganda machine for the SRC, as many might have asked about the relationship that could be expected between the two. The architects of Kovsie TV hope that, as a student initiative, it will inspire a new era in student activism.

 

When asked about the concept behind this new platform, Ngubeni informed us that, “the concept is to have a twenty-minute campus TV show highlighting what goes on around campus so that students know, and so that we can get them participating in campus life activities.”

 

This is a student initiative whose future will depend solely on the students themselves.

 

Presenters:

Nangamso Dlathu – Studio presenter

Grace Thoabala – Studio presenter

Lesego Maakamedi – Social events

Nothando Hlophe – Current affairs

Aldine van der Merwe – Culture events and Vox-Pop

Mbulelo Siyoko – Culture and Vox-Pop

Aisha Phoswa ? Sports

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