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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

The science of translation
2015-09-16

What is the relationship between a translator, information, and an audience? Professor Christiane Nord explored the connection in a series of lectures hosted by the Linguistics and Language Practice Department and the Department of Hebrew of the University of the Free State (UFS) Bloemfontein Campus.

Since 2007, the professor for Translation Studies has been a research associate and professor extraordinary in the department, assisting translation and interpreting students in gaining a global perspective on their disciplines.

The world-renowned German scholar and trained translator for Spanish and English is also an author, with over 200 published articles on the so-called Skopos Theory, which formed the basis of the lectures on 7 and 8 September 2015. The addresses were centered on the functionality and limitations of translations.

Translation as a purposeful activity

According to Prof Nord, all translations should be geared towards conveying messages which the audience understands. This communicative purpose involves taking into consideration the cultural background of the recipient.

As a seasoned practitioner, Prof Nord has been guided by Skopos Theory in her teaching endeavours. Hence her firm stance: “If you do not have a theory, you cannot justify your translational decisions.”

Within the context of the Skopos Theory, she explains that, in order to produce a functional translation, the translator must analyse the purpose of the translated text, which includes the questions for whom, when, where, and through which medium will it reach the intended audience.

How to deal with doubt in functional translation

“Doubt is something we are accompanied by when we’re translating.” Such doubt may be caused by “insufficient proficiency with regards to source and target languages and cultures, domain and terminological knowledge, and knowledge in translation theory and methodology,” said Prof Nord. However, the top-down approach offers a solution to overcome uncertainty, at least to some extent. This approach considers, first and foremost, the target audience for which the translation is tailored. Based on this consideration, the translator is able to determine the approach that is most suitable for the audience, hence eliminating doubt.

In sum, the extraordinary professor asserted that there are no rules for translation, contrary to popular belief. According to Prof Nord, the main focus of a translator or interpreter should be to produce texts in the target language and culture which meet the requirements of the translation brief set by the client or commissioner.

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