Latest News Archive

Please select Category, Year, and then Month to display items

Student Finance: How to manage your money

13 March 2019 | Story Xolisa Mnukwa

financial savvy — Over 60% of South African students are in debt and spend more than the average South African adult.

For many students, university is their first money-management experience, and it is therefore crucial for them to prioritise basic personal-finance knowledge in order to avoid poor money management, and not knowing where their money is going.

Various other educational institutions, facilities, and initiatives such as Student Connections highlight student financial wellness as a topic of importance at higher-education institutions, because of the following reasons:

1. Low retention rates (university dropouts)
2. Loan default (graduating with student-loan debt)
3. Financial hardships affecting future success (low academic performance)

According to LinkedIn, a business and employment-oriented service, the spending and saving habits you develop in college are likely to stick with you throughout your adult life.

A personal finance study conducted by University of the Free State (UFS) Economics and Finance Lecturer, Cecile Duvenhage, revealed trends on how much students spend, and what they spend it on. Her outcomes discovered that students believe money buys them worthwhile experiences; it also revealed that over 60% of South African students are in debt, spending more than the average South African.

According to Duvenhage, the best way to optimise your use of money is to understand three things:

1. The psychology of money – relationship with money, your goals (reality, beliefs, perception, experiences, repeated messages)

2. The science of money – where is your money? What are you using it on, and how to make more (investing, savings, assets, liabilities, expenses, and income/pocket money)

3. The art of money – creating a financial game plan to stay afloat (knowledge, context, personal goals, game plan)

The Guardian website also highlights important tips for managing your money:

- If you’re struggling to manage your personal finances, ask for help. The earlier you get support, the less susceptible you are to overspend

- If you have financial aid, be sure to complete and send back your signed agreements in order to avoid delays in obtaining your money

- Add up your income, and then deduct all your essential expenses.

- Essential expenses include: tuition fees, rent/accommodation, electricity, and other accommodation expenses, groceries/food, and travel costs

The article, 6 common money management mistakes college students make, advises students to “live within your means, and [to] make choices based on the money that you have available.”

The article further recommends that students download a free, easy-to-use budgeting app such as Fudget: Budget Planner or Intuit Mint on their cellphones, which automatically creates a basic spending plan to personalise according to their means.

For enquiries or assistance with money management, contact finaid@ufs.ac.za

News Archive

Oncology department celebrates 50 years of excellence

2017-09-07

The UFS Department of Oncology celebrated 50 years of
existence. Prof Louis Goedhals says that the department
is like a family that will carry and support you.
Photo: Wendy Ruth

South Africa could see an increase of 78% in the number of cancer cases by 2030 and from a global perspective, a 75% increase is expected, increasing the total incidence of all new cancer cases from 12.7 million in 2008 to 22.2 million by 2030, according to a recent study published by medical journal Lancet. According to the Cancer Association of South Africa (CANSA), more than 100 000 South Africans are diagnosed each year. It is rather comforting that the University of the Free State’s (UFS) Faculty of Health Sciences has an Oncology department that has been fighting cancer for 50 years.

Excellence over the decades
The 50-year celebration of the Department of Oncology took place at the UFS Centenary Complex on the Bloemfontein Campus on 19 August 2017. The auspicious event was attended by UFS Faculty of Health Sciences registrars, radiation oncology radiographers and professional nurses who had trained in the department over the past 50 years, as well as the current departmental staff.

Dr Alicia Sherriff, Head of the Department of Oncology welcomed the dignitaries and thanked everyone for their attendance and dedication to the department, Prof Louis Goedhals, the oldest surviving head of department, gave a summary of the 50 years. He said once you were involved with this department you became part of a family that would carry and support you. Memories were shared and friendships rekindled. The message of this department that stood the test of time was: “To cure sometimes, to relieve often, to comfort always … and to bring hope”.

UFS dignitaries reveled in the moment
Among the special guests were the Rector and Vice Chancellor, Prof Francis Petersen, Prof Gert van Zyl, Dean of Faculty of Health Sciences; the Free State MEC for Health Mr Butana Komphela, and CEO of Universitas Hospital Dr Marcus Molokomme, were invited. The function was well attended by personnel, graduates from as far as Portugal, and dignitaries from the university. There was a sense of unity and belonging among all the attendees and enthusiastic catching up over the years that have passed.

Back

Economic and Management Sciences

Education

Health Sciences

The Humanities

Law

Natural and Agricultural Sciences

Theology and Religion

Open Distance Learning

Business School

We use cookies to make interactions with our websites and services easy and meaningful. To better understand how they are used, read more about the UFS cookie policy. By continuing to use this site you are giving us your consent to do this.

Accept