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

First Dementia Care Mapper in Africa receives international award
2015-11-17

The first Dementia Care Mapper from Africa,
Dr Sanet du Toit.
Photo: iFlair Photography

“In one facility, four elders who needed minimal assistance to eat were provided with an opportunity to sit at a separate table, and enjoy their breakfast as preferred – that is, to spread bread with butter, jam or marmite; to add their own milk and sugar to their tea.”

Dr Sanet du Toit described a scenario where staff members at an old-age home implemented recommendations she made following an observation she conducted.

“We do not think twice about doing this but, within institutional care settings, these ’normal’ routines are often replaced with practices that could be viewed as ‘time savers’. For example: everyone gets milky, sweet tea to drink,” she explains.

Yet, by creating an environment where the elderly living with dementia were at liberty to determine the amount of milk in their tea, active participation meant an improved well-being.

She was honoured with the International Association of Homes and Services for the Aging (IAHSA) Award for Excellence in Applied Research on 1 September 2015, at a joint conference held by the Aged & Community Services Australia (ACSA) and IAHSA in Perth.

This exceptional Occupational Therapist from the University of the Free State (UFS) emerged as the first Dementia Mapper from Africa. Dementia Care Mapping is a method used internationally to assess with the purpose of improving the quality of care given to residents in institutionalised settings.

The IAHSA award acknowledged her person-centered care training and research in South African residential care facilities while working at the UFS as a senior lecturer from 2003 to 2013. Currently, she is based at the University of Sydney, but remains an affiliated lecturer at the UFS Department of Occupational Therapy.

In 1992, she graduated with a BA in Occupational Therapy at the UFS, and went on to further her studies at various institutions. Also, she is one of the founding directors of the Eden Alternative South Africa, an advocacy for older persons’ rights within old-age homes. Over the years, Dr du Toit has won numerous awards for her research.

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