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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

UFS acknowledge 53 for long service
2004-11-03

Long service awards for 35 years: Mrs. Christa du Plessis, Centre for Higher Education studies and Development, mnr. John Moorosi, Soil- and Crop- and Climate Sciences , prof. Frederick Fourie, rector, prof. Jopie Botha, Institute for Groundwater Studies, me. Susan Reineke, Plant Sciences, Dr. Sarie van Vuuren of Sociology and me. Aletta de Klerk, Kovsie Sport.

Fifty three personnel members received long service awards in the centenary year of the university for respectively 35 years of service and 25 years of service.

Prof. Frederick Fourie, Rector, said to the recipients of the long service awards: “In a year in which the writing of history of the UFS took a prominent place in the Centenary celebrations and in which one relived the past hundred years, the value we add to the university on a daily basis is clearly visible. Many personnel members contributed to make the UFS a valued institution and will proceed to do that in the spirit of 100+.”

He thanked and acknowledged personnel for the plus they add to each day’s work. “The students which enter the UFS each year, want to thank you for an university which on an innovative manner impacted their lives. “You helped to create the building blocks for their future,” he said.

Prof. J. F. Botha, Mr M.G. Botha, Ms A. De Klerk, Mr M.J. Doman, Prof. H.C. Janse van Rensburg and Ms S.M.C. Reinecke received awards for 35 years of service.

For 25 years of service at the university Prof. S.L. Barnard, Mr B. Botma, Dr H. J. Breytenbach, Dr M.W. Brussow, Mr N.L. Combrink, Ms A.J. Du Plessis, Ms C. Du Plessis, Prof. L. Goedhals, Mr M.E. Hlazo, Prof. B.B. Hoek, Dr S.J.E. Janse van Vuuren, Mr M. Kgasane, Ms A. Kgosi, Dr W.P. Konig, Dr P.A.L. Le Roux, Prof. N.J. Luwes, Dr N. Luyt, Ms S.E. November, Ms M. Mabaso, Ms M.K. Maruping, Prof. J.D. Marx, Mr J.P. Masedi, Mr G. Mokapane, Mr J. Mokapane, Ms M.L. Molosi, Ms M.M. Molwagale, Mr P.J. Moorosi, Ms C. Moroagae, Ms E. Moroale, Mr G.G. Mothokwane, Prof. M. Mulder, Prof. A.C. Otto, Ms H. Pelser, Ms E. Pelzer, Ms M.M. Pheko, Prof. E. Pretorius, Ms M.P. Richter, Ms E. Rouls, Prof. M.T. Seaman, Prof. R.B. Snowdowne, Prof. J.P. Strauss, Ms M.S. Tsolo, Prof. H.J. van der Linde, Dr S. van Vuuren, Prof. J.B. van Wyk, Dr J.M. van Zyl, Prof. T. Verschoor and Ms M.H.S. York received an long service award.

“Be assured of my appreciation for your loyalty and commitment to a university which is taking careful steps into a new century of its existence. If we do the right things right and with a sincere belief in our heavenly Father we will be able to build on the solid foundation laid by people like you,” he said.

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