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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

Almost 2000 degrees and diplomas conferred at Winter Graduation
2015-06-26

Live streaming will be available on: http://livestream.ufs.ac.za/

The 2015 Winter Graduations are almost underway. The highlight on the university calendar for every graduate will take place on the Bloemfontein Campus on 1-2 July 2015. On 1 July 2015, diplomas will be awarded by the Centre of Financial Planning Law (331 in total) and the School of Open Learning (376 in total). On 2 July 2015, a total of 1 220 master’s and doctoral degrees will be awarded to graduates from all seven faculties.

A highlight at this year’s Winter Graduation is the awarding of three honorary degrees by the university. Ambassador Lakhdar Brahimi, Dr Mercy Oduyoye and Mr John Samuel will receive honorary degrees.

On 17 August 2012, Ambassador Brahimi was appointed by the United Nations as the new peace envoy to Syria, replacing Kofi Annan. He is also a member of the Commission on Legal Empowerment of the Poor, the first global initiative to focus specifically on the link between exclusion, poverty and the law. Prof Heidi Hudson, Head of the Centre for Africa Studies at the UFS, will receive the honorary degree on his behalf.

Dr Oduyoye is widely regarded as one of the most influential women theologians Africa has produced in recent history. Currently, she directs the Institute of African Women in Religion and Culture at the Trinity Theology Seminary in Legon, Ghana.

Mr John Samuel, who will receive an honorary award, is also scheduled to be a guest speaker at the two ceremonies on 1 July 2015.

Wednesday 1 July 2015:

John Samuel will be the speaker at both ceremonies. He is one of South Africa’s leading education experts with international and national experience, covering a period of more than forty years. He was involved in the founding of the South African Campaign: Public Participation in Education Network (PPEN), established the Centre for Education Policy Development, the Joint Working Group (for The National Party Government and the ANC), the National Education Conference, and the National Education and Training Forum. He also made leadership contributions to the First Education and Training White Paper, the Transformation Strategy for the National Education Department, and the first Green Paper on Higher Education.

John is also Senior Programme Director of the WK Kellogg Foundation in the USA. He has also been the Chief Executive of the Nelson Mandela Foundation, and the CEO of the Oprah Winfrey Leadership Academy for Girls.

Thursday 2 July 2015:

Nataniël will be the speaker at both ceremonies. Nataniël is a singer, songwriter, and South African entertainer, who has crossed from the alternative circuit to the stage. For the past 10 years, he has become well-known for his outspoken Kaalkop column in SARIE magazine. His solo career was launched in 1987 and, since then, he has released 16 albums, staged more than 70 original theatre productions, and published 15 books. Over the past two decades, Nataniël has gained the title of South Africa’s leading exponent of the solo stage act. He manages Kaalkop Studio, his lifestyle retail company, and records on his own independent label, Nataniël House Of Music. He is an ambassador for Child Welfare SA, and also heads his own charitable foundation, The Nataniël Progress Project.

 

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