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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

Alcinda Honwana: Youth Protests Main Mechanism against Regime
2015-05-25

Prof Alcinda Honwana

"Enough is Enough!": Youth Protests and Political Change in Africa (speech) 

The Centre for Africa Studies at the UFS hosted an interdisciplinary project on the Bloemfontein Campus from 20-22 May 2015.

The project, entitled Contemporary Modes of Othering: Its Perpetuation and Resistance, looked at different perspectives, representations, and art forms of otherness, how it is perceived, and how it is resisted.

The annual Africa Day Memorial Lecture was held on Thursday evening 21 May 2015 at the CR Swart Auditorium. Guest speaker Prof Alcinda Honwana addressed the subject of ‘Youth Protests and Political Change in Africa’.

“Youth now seem able to display what they don’t want, rather than what they do want,” Honwana said in her opening remarks. “Thus, we see the young driven to the streets to protest against regimes.”
 
Honwana shed some light on recent examples of youth protests in Africa that have enjoyed global attention. Looking at the protests in Tunisia (2010), Egypt (2011), Senegal (2012), and Burkina Faso (2014), it is clear that these events in northern and western Africa have inspired others globally. Yet, Honwana stated that, despite these protests, no social economic change has been seen, and has left dissatisfaction with new governments as well.

“Once regimes fall… young activists find themselves more divided, it seems…

“Which leaves the question: Will street protests remain young people’s main mechanism to avert those in power?”

Background on Prof Alcinda Honwana:

Alcinda Honwana is currently Visiting Professor of Anthropology and International Development at the Open University (UK). She was chair in International Development at the Open University, and taught Anthropology at the University Eduardo Mondlane in Maputo, the University of Cape Town in South Africa, and the New School for Social Research in New York. She was programme director at the Social Science Research Council in New York, and worked for the United Nations Office for Children and Armed Conflict. Honwana has written extensively on the links between political conflict and culture, and on the impact of violent conflict on children and youth, conducting research in Mozambique, the Democratic Republic of the Congo, Angola, Colombia, and Sri Lanka. Her latest work has been on youth and social change in Africa, focusing on Mozambique, Senegal, South Africa, and Tunisia.

Honwana’s latest books include:

• Youth and Revolution in Tunisia (2013); 
• Time of Youth: Work, Social Change, and Politics in Africa (2012);
• Child Soldiers in Africa (2006);
• Makers and Breakers: Children and Youth in Postcolonial Africa (2005, co-edited).

Honwana was awarded the prestigious Prince Claus Chair for Development and Equity in the Netherlands in 2007.

 

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