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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

Faculty of Education hosts global education conference
2015-11-09



The Faculty of Education at the University of the Free State hosted the Annual conference of the South African Education Research Association (SAERA).  From the left are Profs André Keet, Director of the Institute for Reconciliation and Social Justice, Sechaba Mahlomaholo, Dean: Faculty of Education, Carlos Torres, keynote speaker and Professor of Social Sciences and Comparative Education, and former Director of the UCLA-Latin American Center, and Azlam Fataar, SAERA president.

National and global issues, trends, and research were discussed at the annual conference of the South African Education Research Association (SAERA), hosted by the Faculty of Education at the University of the Free State.

Considered as the highlight for educators, education researchers, and education policy makers, this conference is linked directly to the World Education Research Association (WERA), and to the American Education Research Association (AERA).

More than 400 delegates from national and international universities, as well as other interest groups such as the Department of Higher Education and Training of South Africa, have submitted abstracts on a variety of topics, spanning the different disciplines in education.

Keynote Speaker, Prof Carlos Torres, Professor of Social Sciences and Comparative Education, and former Director of the UCLA-Latin American Center, explained the importance of global citizenship education.

“The requirements to enable global citizenship education are clarification, bare essentials, principles, teaching methods, and agents. Global citizenship education is an intervention in search of a theory.”

Prof Torres's areas of theoretical research focus on the relationship between culture and power, the interrelationships of economic, political, and cultural spheres, and the multiple and contradictory dynamics of power among, and within, social movements that make education a site of permanent conflict and struggle.

Prof Teboho Moja, policy researcher and policy analyst for higher education in South Africa, spoke enthusiastically about changes taking place currently in higher education, changes that are driven by the recent demands of university students. Her keynote address dealt with equality and equity in higher education in South Africa.

“This conference is taking place whilst ‘something’ is happening in South Africa. This ‘something’ had to happen to achieve equity in higher education. Recent events on campuses left me proud to see the unity amongst students. Will the next phase in transformation and reform see that the doors of learning will be opened to all, as stated in the Freedom Charter?”

Prof Moja has authored articles on higher education reform issues in areas such as the governance of higher education, policy processes, and impact of globalisation on higher education.

“Hosting a conference of this magnitude validated the research work of the Faculty of Education in particular. It also positioned the Faculty positively in the national and international conversations around education research and gave the Faculty the opportunity to showcase its research, teaching, community engagement, and most importantly its organisational skills,” said Prof Sechaba Mahlomaholo, Dean of the Faculty of Education. According to Prof Mahlomaholo, staff (academic and support) in the Faculty have benefited greatly from listening to and networking with outstanding scholars from across the broad spectrum of education disciplines in the world. “These scholars also role modelled excellence in education research, which both our students and academic staff are now working towards emulating and surpassing,” he said.


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