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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

‘Sola Scriptura’ — Does Scripture still reign as authority?
2017-02-21

Description: Theology Open Day Tags: Theology Open Day

Thania Labuschagne, Nico Oosthuizen, and
Suthea van der Westhuizen.
Photo: Supplied


Reformation 500: Sola Scriptura [scriptural authority] and contemporary conflicts of interpretation was the theme for the Faculty of Theology and Religion’s official opening and annual Open Day on the Bloemfontein Campus of the University of the Free State (UFS). The faculty was recently renamed to be more inclusive of other denominations, as well as to be sensitive to the impact religion has on society, both in the past and presently.

In his welcoming address to first-year students, Prof Fanie Snyman, Dean of the Faculty of Theology and Religion, said, “I hope that you indulge in the theological dish served to you, and that it will create in you a deep hunger to know more.”

One first-year, Neo Kgaje, had this to say, “I first wanted to do Archaeology, but then I decided to follow my calling as a missionary and study Theology. I would like to serve in my own community in Botshabelo.”

Thania Labuschagne, former chairperson of the Sola Gratia student association, said, “The annual opening is always very special for me. We become part of a family here.” Her message for first-years was, “Maintain your passion for what you do. Make sure of your calling, and everything else will fall into place.”

Prizes awarded
Prizes were awarded to several students who excelled in the previous year. The best third-year student in 2016 was Suthea van der Westhuizen; best fourth-year BTh student, Thania Labuschagne; and Nico Oosthuizen was recognised as the best Master of Divinity in the fifth year.

The Director of Shepherd Centre for spiritual leaders, Dr Gerhard Botha, awarded certificates for the completion of a 9-module short learning programme presented by the centre.

"May you hunger to know more"—
Prof Fanie Snyman, Dean of the
Faculty of Theology and Religion

Current affairs addressed through scriptural analysis
While acknowledging that the debates around the authority of Scripture are complex and not easily resolved, Prof Hendrik Bosman from the Faculty of Theology at Stellenbosch University (SU) argued that it is an indispensable precept of Christian theology. However, it can no longer be taken as a given, since the authority of Scripture is increasingly vulnerable. He said, “Sceptic academics and critical theologians are challenging the more traditional ways of accepting the authority of Scripture.”

Prof Bosman highlighted the negative impact that certain claims of scriptural authority have had on the marginalised and vulnerable groups in society — “the suffering endured by people of colour, Jews, the LGBTQI community, and women due to prejudice and hatred. … [When reading the Bible], one must also be held accountable by the marginalised and the vulnerable in society.”

Prof Juliana Claassens (Faculty of Theology, SU) presented Beyond Revenge: Responsible Bible Reading Practices in a Traumatised Land. “As a community of believers who hold dear the principle of Sola Scriptura, what do we do with texts that revel in the downfall of the enemy and propagate revenge as a viable solution to the hurt and pain people are experiencing?”

Prof Claassens continued, “This question is particularly relevant given the deep wounds that many in this beautiful country of ours carry. … There is thus a real danger that expressions of violence survive and grow ever stronger with each utterance, until the violent ideas they propagate are considered to be normal.” Her recommendation? “Foster communities of care, focused on breaking down walls, instead of erecting them.”

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