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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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Prof Steyn to receive Jan H Marais Prize in Stellenbosch
2017-05-09

Description: Prof Jaap Steyn  Tags: Prof Jaap Steyn

Prof Jaap Steyn, who started his career as
journalist at Volksblad, later entered the academy,
and was a professor at the University of the
Free State for many years.
Photo: Marthie Kemp

Although Prof Jaap Steyn will be honoured officially for his contribution to Afrikaans as an academic language at the end of this month, he only became aware of his nomination after he had won the award.

According to this research fellow in the Department of Afrikaans and Dutch, German and French at the University of the Free State (UFS), he is grateful for the recognition. He has recently been awarded the Jan H Marais Prize for his outstanding contribution to Afrikaans.

Former Kovsie honoured together with Prof Jan van der Watt
According to a statement by the South African Academy for Science and Arts, the award was jointly made to Prof Steyn, who is probably the best-known South African language historian, and Prof Jan van der Watt van Nijmegen from the Netherlands. The prize money of R500 000, which they will share, will be presented in Stellenbosch on 30 May 2017.

Prof Steyn is a former Kovsie, who was a research professor at the UFS from 1985 to 1997, and at the age of 78 is still a research fellow. “After the announcement of the prize, I learnt that I was nominated by two of my colleagues,” he says.

His most difficult work was probably also his best

Over the past 50 years several of his publications, biographies, and books have seen the light. He believes that nothing one does is perfect. His most difficult work was the biography of NP van Wyk Louw. “It was probably also my best work,” he says. “The book I enjoyed working on most, was the biography of the author MER, or ME Rothmann.”

Prof Steyn has also received awards such as the Stals Prize, the Louis Hiemstra Prize, the NP van Wyk Louw medal, and honorary membership from the South African Academy for Science and Arts.

He says the staff in the Department of Afrikaans and Dutch, German and French are very friendly and helpful to still render him assistance as a research fellow.


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