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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

Art and science help us understand the world and our place in it
2017-10-28



Description: Art and science  Tags: Art and science

At the event were, from the left: Tristan Nel, first-year Fine Arts student;
Dr Janine Allen-Spies from the Department of Fine Arts;
Prof Carlien Pohl-Albertyn from the Department of Microbiology,
Biochemical and Food Biotechnology; and Pheny Mokawane, a
Microbiology, Biochemical and Food Biotechnology student.
Photo: Charl Devenish

Although BioArt dates back as far as the 15th and 16th centuries with the work of Leonardo da Vinci, it is not every day that art and science combine. This rare phenomenon made its appearance when two totally different groups of students – studying arts and microbiology respectively – joined hands in an initiative to create BioArt.

This first-time undergraduate teaching collaboration between the Departments of Fine Arts and Microbial, Biochemical and Food Biotechnology at the University of the Free State (UFS), which is characterised by the use of living materials, such as enzymes, microbes and DNA, as well as scientific tools and methods, is exploring a number of questions. 

Different outcomes for arts and microbiology students

According to Prof Carlien Pohl-Albertyn from the Department of Microbiology, Biochemical and Food Biotechnology, one of the central questions explored in BioArt is the nature of ‘life’. “At which stage can matter be classified as being alive or living?” she asked. 

“We realised that the outcomes for the two groups of students would not be the same. For the microbiology students, the focus would be on the understanding and effective communication of a microbiological concept. For the art students the focus would be on the execution of the assignment using visual elements and applied theory of art,” said Prof Pohl-Albertyn.

Dr Janine Allen-Spies from the Department of Fine Arts added: “Art students will also be exploring strangely or previously unforeseen gaps between art and science that can be filled with imaginative interpretations which may forward creative insights in both BioArt as a developing art form and microbiology as investigative science.”

Students’ understanding of microbial evolution reflected in art
The art students had to visit the microbiology labs for their assignment as this is mostly a foreign environment for these students. “The paint medium they had to use was gouache. This medium with its bright colours works well to depict microscopic organisms in art,” Dr Allen-Spies said. 

On display at the Department of Microbial, Biochemical and Food Biotechnology on the Bloemfontein Campus, at a recent event to introduce this new initiative to a wider audience, was a range of visually and scientifically compelling paintings and artefacts (such as paintings, poems, songs, apps) which explore a theme within microbiology from a BioArt perspective that uses creativity to communicate concepts dealt with in the module Microbial Evolution and Diversity.

Any parties who are interested in buying the art can contact Dr Allen-Spies at allenj@ufs.ac.za.

Paintings and artefacts reflects students understanding of BioArt. At the recent opening of the BioArt exhibition at the UFS Department of Microbial, Biochemical and Food Biotechnology, was the work of Madeleen Jansen van Rensburg on display.

Pheny Mokawane, a Microbiology, Biochemical and Food Biotechnology student, wrote a poem for his BioArt project in the Microbial Evolution and Diversity assignment. 

 

 

 

 

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