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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.

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Extending new discoveries in the deep subsurface – UFS paper published in Nature Communications
2015-11-30



Scanning electron microscopy of some of the Eukarya recovered from two different mines. (a) Dochmiotrema sp. (Plathyelminthes), (b) A. hemprichi (Annelida), (c) Mylonchulus brachyurus (Nematoda), (d) Amphiascoides (Arthropoda). Scale bar, 50 µm (a,b), 100 µm (c), 20 µm (d).

Following the discovery of the first Eukarya in the deep subsurface (Nature, 2010) by a research group from the Department of Microbial, Biochemical, and Food Biotechnology at the University of the Free State (UFS) and their international collaborators, intense interest has developed in understanding the diversity of more complex organisms living in these extreme environments.

Prof Gaetan Borgonie from Extreme Life Isyensya, together with a group of UFS researchers, took this research further, resulting in a paper on this research released in Nature Communications – impact factor 11.47.  This paper is an extension of the first reports of more complex life at great depths, and their abilities to survive these harsh conditions.

Ten authors from the UFS contributed with the array of expertise needed to define this discovery. The group was supported by staff from the different mining groups, long-term leading collaborators from the USA and Canada, and the idea specialist driver of the paper, Prof Borganie.

“After a sampling campaign that lasted more than two years, we identified that Platyhelminthes, Rotifera, Annelida and Arthropoda are thriving at 1.4 km depths in fissure water up to 12,000-years old in the South African mines of Driefontein and Kopanang,” said Prof Borgonie, who was appointed as associated researcher in the Department of Microbial, Biochemical, and Food Biotechnology.

This paper really opens a “can of worms” so to speak. According to Prof Esta van Heerden from the Department of Microbial, Biochemical and Food Biotechnology at the UFS they extended to define protozoa and fungi. “However, they are present in low numbers,” she said.

Characterisation of the different species reveals that many are opportunistic organisms. In house-adapted video equipment was used to film inside the fissure for the home of the organisms.

This is the first-known study to demonstrate the in situ distribution of biofilms on fissure rock faces using video documentation. Calculations suggest that food, not dissolved oxygen, is the limiting factor for population growth. The discovery of a group of complex multicellular organisms in the underground has important implications for the search for life on other planets in our solar system.

More articles

The strange beasts that live in solid rock deep underground
A microscopic ‘zoo’ is found deep, deep underground

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