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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

UFS doctors fight childhood cancer

2016-09-02

Description: Childhood cancer Tags: Childhood cancer

Prof David Stones and Dr Jan du Plessis of the
University of Free State’s paediatric oncology ward
are helping little lives, one patient at a time.
Photo: Nonsindiso Qwabe

Of 23 paediatric oncology specialists nationally, Prof David Stones and Dr Jan du Plessis of the University of Free State are the only ones in the province.

Committed to giving holistic care to their patients, the two doctors specialise in all types of childhood cancers, the most common being leukaemia, brain tumour, and nephroblastoma.

They describe the childhood malignancy as a lethal disease, unpredictability being its harshest trait. “With cancer, you can just never know. It precipitates and multiplies, and leads to the failure of other organs. You can just always hope, and keep trying,” said Du Plessis.

The paediatric oncology unit of the Universitas Academic Hospital, their unit, is the liveliest floor in the entire building. It is also the third busiest in South Africa, serving a demographic that spans the Free State and Northern Cape, as well as parts of North West, Eastern Cape and Lesotho.

Each year, the unit receives more than 100 new childhood cancer patients. In 2015, the unit had 113 newly diagnosed patients, an increase from 93 in 2014.

Lack of knowledge poses a serious challenge
According to the two experts, the lack of insight and awareness of the disease remain a big challenge to fighting it. “It is frustrating. Parents and family members don’t know anything about it. Nurses and doctors aren’t always clinically trained to pick up the early warning signs. By the time a diagnosis is made, life and death is on a 50% margin,” Stones said.

Poverty, a lack of resources, overcrowding and a range of health issues are other factors that have a profound effect on the diagnosis and treatment of the disease.

Making a contribution that will last
With a desire to see an improvement on life outcomes in the health sector, the team is focusing on educating the country’s doctors of tomorrow. Their unit is the only one in the country that actively involves medical students in an oncology unit, giving them practical experience and exposure to the individual cases each patient presents. They have also produced a substantial amount of research literature on childhood malignancies in South Africa as a developing country.

Driven by passion to see a better South Africa
The doctors are passionate about the work they do, and remain hopeful there will be a change in the incidence of childhood cancer not just in decreased levels of the disease, but also in the overall state of well-being of young South Africans.

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