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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

Prof Antjie Krog speaks on verbalising revulsion and the collusion of men
2015-06-26

From the left are Prof Lucius Botes, UFS: Dean of the Faculty of the Humanities; Prof Helene Strauss, UFS: Department of English; Prof Pumla Gobodo-Madikizela, UFS: Trauma, Forgiveness and Reconciliation Studies; Prof Antjie Krog, UCT: Department Afrikaans and Dutch; Dr Buhle Zuma, UCT: Department of Psychology. Both Prof Strauss and Dr Zuma are partners in the Mellon Foundation research project.

“This is one of the bitterest moments I have ever endured. I would rather see my daughter carried away as a corpse than see her raped like this.”

This is one of 32 testimonies that were locked away quietly in 1902. These documents, part of the NC Havenga collection, contain the testimonies of Afrikaner women describing their experiences of sexual assault and rape at the hands of British soldiers during the South African War.

This cluster of affidavits formed the foundation of a public lecture that Prof Antjie Krog delivered at the University of the Free State’s (UFS) Bloemfontein Campus on Tuesday 23 June 2015. The lecture, entitled ‘They Couldn’t Achieve their Goal with Me: Narrating Rape during the South African War’, was the third instalment in the Vice-Chancellor’s Lecture Series on Trauma, Memory, and Representations of the Past. The series is hosted by Prof Pumla Gobodo-Madikizela, Senior Research Professor in Trauma, Forgiveness, and Reconciliation Studies at the UFS, as part of a five-year research project funded by the Andrew W. Mellon Foundation.

Verbalising revulsion

The testimonies were taken down during the last two months of the war, and “some of the women still had marks and bruises on their bodies as evidence,” Prof Krog said. The victims’ words, on the other hand, struggled to express the story their bodies told.

What are the nouns for that which one sees? What words are permissible in front of men? How does one process revulsion verbally? These are the barriers the victims – raised with Victorian reserve – faced while trying to express their trauma, Prof Krog explained.

The collusion of men

When the war ended, there was a massive drive to reconcile the Boers and the British. “Within this process of letting bygones be bygones,” Prof Krog said, “affidavits of severe violations by white men had no place. Through the collusion of men, prioritising reconciliation between two white male hierarchies, these affidavits were shelved, and, finally, had to suffer an embargo.”

“It is only when South Africa accepted a constitution based on equality and safety from violence,” Prof Krog said, “that the various levels of deeply-rooted brutality, violence, and devastation of men against the vulnerable in society seemed to burst like an evil boil into the open, leaving South African aghast in its toxic suppurations. As if, for many decades, we did not know it was there and multiplied.”

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