Latest News Archive

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

Miss Deaf SA inspires UFS teachers with her life story
2009-11-26

Pictured from the left, are: K. Botshelo, Vickey Fourie (Miss Deaf SA) and A. Morake.

Vicki Fourie, Miss Deaf SA 2009 and Miss Deaf HESC, recently visited the University of the Free State to motivate aspiring Foundation Phase teachers by sharing her life story with them.

When Vicki was two years old, her parents found out that she couldn’t speak. Two possible explanations were that she had had an ear infection or speech problems. They took her to a specialist and after a brain scan they found out that Vicki had 97% hearing loss in both ears.

Hearing aids were required and Vicki’s father, Pastor Gerhard Fourie from the Christian Revival Church (CRC) enrolled her in a kindergarten school for deaf children, Carel Du Toit in Cape Town.

However, even though Carel Du Toit’s slogan is ‘Where Deaf Children Learn to Speak’, it was because of her mother’s efforts that Vicki is able to communicate effectively with hearing people today.

Bonita Fourie would sit with her child every single day and teach her how to pronounce words phonetically and how to read lips. It is because of that that Vicki is not dependent on sign language at all.

When she was seven years old, her parents enrolled her in an English A.C.E. school. Even though Vicki’s home language is Afrikaans, her parents decided to go against the norm by placing her in an English school (most deaf/hard of hearing people cannot learn a second language). Today Vicki is fluent in both languages.

“I used to think that my hearing aids are just a normal thing you put on, like using glasses for reading,” she said. “I still think that way. People always come up to me and say, ‘It’s amazing how easily you adapt to hearing people. You have no stumbling blocks or holdbacks.’

“To me it’s interesting because my reaction is always this: ‘God gave me this situation, and I have made the best of it. I’ve overcome it, and therefore I can go forward in life’. We were born not to survive, but to thrive. I detest the attitude of, ‘I’m a victim, so the world owes me something’. The world owes nobody anything! We can be victorious over our own circumstances. It is possible. My name’s meaning is testifies to this: “Vicki” comes from the word “Victory”. I was meant to be victorious, and not a victim.”

Vicki, who is now 20, has achieved so much in life. She did ballet, hip-hop, modern dancing, drama (she even went to America for her dramatic monologue and poetry recitation), and she has published over 70 magazine articles, nationally and internationally. Her dreams are to write books one day, become a TV presenter, and motivate and inspire people all over South Africa through public speaking.

When one hears this story, one cannot help but be surprised by her success. It makes you realize that anything is possible when you see the potential in a child, and then do everything in your power to develop it and draw it out. When you believe in the child that you are educating, that child will sense it and blossom like a flower.

“Courage isn’t a gift, it is a decision,” Vicki said. “There will always be things that try to hold you back. The key to working with any child is to be patient, patient, and patient! Teachers play a huge role in equipping children for the future. It is a big responsibility, but it can be done.”
 

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