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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

Anchen Froneman selected for NY post-grad programme
2015-04-29

Anchen Froneman

Anchen Froneman, PhD-student at the UFS Odeion School of Music (OSM), has been accepted into the Modular Certification Programme in Laban Movement Studies at the Laban/Bartenieff Institute of Movement Studies (LIMS), in New York (USA). 

This programme is a postgraduate certificate that is considered the equivalent of a master’s degree programme. Successful completion earns the title of Certified Movement Analyst (CMA).  Anchen’s attendance at the first module of the programme from 1 to 17 June 2015 has been made possible by a Postgraduate Scholarship granted by the Oppenheimer Memorial Trust.

Participation in the CMA Programme stems from her multidisciplinary doctoral research project as well as a personal interest in the ways that body movement contributes to a holistic musical performance.  In her research project, she investigates the application of Laban Movement Studies to obtaining embodied, integrative piano performances.  Laban Movement Studies is an approach whereby both the quantitative and qualitative aspects of body movement is analysed, codified, and developed, using specific considerations. This somatic approach uses a framework based on the personal uniqueness and complexity embedded in human movement, explaining and developing the organisation of the body, the position and relation of the body to itself, space, and other objects as well as the dynamic range of body movement. 

CMAs contribute to various areas of human development, including leadership development, cross-cultural communications and management, interpersonal skills and conflict management, team development, self-awareness and performance improvement, performing arts as well  as movement therapies.

Anchen uses the foundation of the Laban approach in her hypothesis that the development of both functional and expressive movement will enhance musical performance.  She also centres this on the literature findings on body movement in the disciplines of music performance, neuroscience, psychology, and physiology. With this project, she aims to make a scholarly contribution towards raising awareness of the importance of integrating functional and expressive movements in performance.

Anchen completed her previous music qualifications at the OSM.

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