Latest News Archive

Please select Category, Year, and then Month to display items
Categories
UFS News Media Release Research
Years
2017 2018 2019 2020 2021 2022 2023 2024
Months
January February March April May June July August September October November December
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

Dr Mercy Oduyoye receives an honorary doctorate for changing how women are viewed in theology
2015-07-08

Dr Mercy Oduyoye.
Photo: Johan Roux

Dr Mercy Amba Oduyoye received an honorary degree from the UFS Faculty of Theology in acknowledgement of the trailblazing work she has done in the field of African women’s theology. Known as the Mother of African Women’s Theology, Dr Oduyoye is the first black woman in Africa to have received a degree in theology. Ever since then, she has been changing views on gender in theology across the globe. Still at the office at the age of 82, Dr Oduyoye’s life work has centred on two areas: her work with churches, and her work with female theologians.

Women in religion and culture
Following the 2015 Winter Graduation Ceremony on the Bloemfontein Campus, during which Dr Oduyoye received her honorary degree from the University of the Free State (UFS), she presented a lecture on women in religion and culture at the Faculty of Theology. Dr Oduyoye gave a brief overview of her involvement in organisations since the early 1970s to eliminate patriarchal structures in theology, in order to produce a relationship of partnership between women and men. An area that lies especially close to Dr Oduyoye’s heart is that of storytelling, and the use of language. Therefore, a driving force behind her work has been the question: “How do we communicate what we believe as Christians?”

Writing in a way people can understand
This question led Dr Oduyoye on her journey to vernacularise theological language, and it became her mode of writing. “Very seldom will you find the classical or official theological language in my writing, because I’m writing as if I’m speaking to a youth group, a women’s group – or even my grandmother.” In this way, communication became her focal point to present Christianity in such a way that people can understand it, thus rendering it relevant to the situation in Africa.

Changes toward inclusive language
Dr Oduyoye has gone on to author four books and over eighty articles on theology from a feminist perspective. And after toiling for many years, Dr Oduyoye can now see the changes emerging – especially in the US – as Bibles, lectionaries, and hymns are increasingly adopting an inclusive language, giving women a presence and voice within the church.

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