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Book bridges gap between mental health and money

01 November 2023 | Story Valentino Ndaba | Photo SUPPLIED

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

Triumph of the Human Spirit – a symbol of hope

2015-08-24

Ahmed Kathrada discusses his latest book, Triumph of the Human Spirit.
Photo: Johan Roux

“A triumph of courage and determination over human frailty and weakness; a triumph of the new South Africa over the old.” – Ahmed Kathrada

Ahmed Kathrada, stalwart of South Africa’s liberation struggle, visited the Bloemfontein Campus on 18 August 2015 to launch his latest book, Triumph of the Human Spirit. Turning page after page, the reader travels back with Uncle Kathy – as he is fondly known – to revisit Robben Island with the more than 300 guests he has accompanied since 1994. With each photo – be it a celebrity or school child, head of state or famous artist, friend or royalty – the significance of the island is eternalised, right alongside Ahmed Kathrada.

Message of triumph
“Why this specific title for the book?” Prof André Keet, Director of the Institute for Reconciliation and Social Justice (IRSJ), asked during the book launch. “Robben Island,” Kathrada answered, “should not be remembered only as a place of suffering – that’s history. But the message of Robben Island is the message of triumph – triumph of the human spirit over all sorts of adversities.”

Speaking about Kathrada’s quiet but profound impact, Zaakirah Vadi, editor of the book, said “I think Uncle Kathy does not realise what an inspiration his own strength of spirit is”. The fight for human values and dignity was “honed and perfected in the cells of Robben Island,” she said. “It created the vision for a new South Africa and, as Uncle Kathy puts it, the triumph of the new South Africa over the old.”

UFS surprises Ahmed Kathrada with a birthday cake.
Photo: Johan Roux

Freedom was sacrifice
This triumph was not achieved without a cost, though. “No freedom comes on a platter,” Kathrada said. “Freedom was fought for. Freedom was sacrifice. Through the sacrifices of those who did not survive, we are still here to tell the story.”

And that is exactly what Triumph of the Human Spirit does. As Kgalema Motlanthe writes in the foreword, “This book serves as a preservation of history and a symbol of hope.”

Birthday celebration
Just as the event seemed to come to a close, members of the Student Representative Council carried a candle-lit cake – shaped in the number 86 – toward Kathrada. This surprise was organised by the UFS to celebrate his birthday on 21 August 2015. And, as the audience cheered and sang, Kathrada’s smile spread like a light across the hall.

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