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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

The book on ‘Reitz’ still not closed

2016-08-12

Prof André Keet, Director: Institute for Reconciliation and
Social Justice (IRSJ) with the authors of Transformation
and Legitimation in Post-apartheid Universities: Reading
Discourses from ‘Reitz’, JC van der Merwe and
Dionne van Reenen.

A new IRSJ book tackles issues of transformation.

Transformation and Legitimation in Post-apartheid Universities: Reading Discourses from ‘Reitz’ is the first in a series on critical studies in higher education transformation from the Institute for Reconciliation and Social Justice (IRSJ). In his introduction to this series, Prof André Keet, Director: Institute for Reconciliation and Social Justice (IRSJ), highlights why a scholarly work of this nature was necessary: “Acts of resistance against structurally-anchored forms of exclusion within universities in both South Africa and elsewhere suggest that, despite our best efforts, the social structure of the academy … has remained more or less intact over the past several decades.” The book was recently launched during the fifth anniversary reflections of the IRSJ.

Transformation and Legitimation in Post-apartheid Universities: Reading Discourses from ‘Reitz’ explores and expands on the landmark “Reitz” incident. The authors, JC van der Merwe, Deputy-Director at the Institute for Reconciliation and Social Justice (IRSJ) and Dionne van Reenen, researcher and PhD candidate at the IRSJ, offer insights on how this incident and the events surrounding it represent a recurring pattern that continues to underpin many processes in post-apartheid South Africa.

Prof Jonathan Jansen, Chair of the Advisory Board of the IRSJ, and Vice-Chancellor and Rector of the UFS, says of the authors: “The courage of their convictions is reflected in this book. They have played, and will continue to play, an amazing role in shaping the discourse around transformation.”

Jamie Turkington, former editor of the IRAWA Post during the time of the ‘Reitz’ incident and facilitator during the five-year anniversary function, says: “This book will be beneficial for every student and every person involved in the University of the Free State since 1980 till now to read and absorb the valuable points therein. If you thought Reitz was over, it shouldn’t be; it is as relevant today as ever.”

"If you thought Reitz was over..."

Turkington adds that the book will serve as a “worthwhile conversation starter at UFS”, raising such questions as:
• How much legitimacy was the UFS able to acquire internally, within the university community, as well as in society at large?
• How do we chart a way forward from here?
• How do we keep the progress going?

As the book itself says: “Reitz serves as a reminder to higher education practitioners that our humanity is fragile in terms of who we are and what we can achieve. Transformation and legitimation, and the way higher education institutions handle these going forward, promises to be seminal in the foreseeable future of the sector.”

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