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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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Farewell to the Class of 2015
2016-12-07

Description:Class of 2015 Tags: Class of 2015 longdesc=


Some of the students from the Class of 2015

The First Year Leadership for Change programme (F1 L4C) hosted its final graduation ceremony for the class of 2015.

Launched in 2010, the programme gives first-year students international exposure to top universities across the world, providing invaluable opportunities to explore the concepts of transformational leadership, global citizenship and social cohesion.

The 32 students and six staff mentors visited various universities which included, New York University, Rutgers University, Edmonds Community College and Washington University ­- all in the US, Mahasarakham University in Thailand and Vrije University in the Netherlands.

Making a change through critical thinking

Pura Mgolombane, Dean of Student Affairs at the University of the Free State (UFS), challenged the students to think about making a change and to critically think about themselves and how they see the world.

The graduation function, which took place on 16 November 2016, saw the class of 2015 come together to celebrate their accomplishments over the year and allowed the class representative, Tammy Fray, to reflect on all of the valuable lessons learnt.

Special announcement to end the evening

Throughout the evening, representatives from previous years testified to the impact the programme had on their personal development, leadership pathways and their learning communities. The audience was charmed with a song by Stefan Lotter, current chair of the F1 Fellowship Association, and the Delicate Artistry Band.

The evening ended with a special word by Prof Nicky Morgan, acting Rector of the UFS, who convinced by alumni’s testimonies, acknowledged what the exceptional programme had delivered over the past six years. Although it was at the end of its lifetime, he said that in review, ideas emerging from the programme should be explored to give birth to something new.  Watch this space!

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