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

Communication Science lecturers walk away with Best Teachers Award
2015-11-26

The winners: Jolandi Bezuidenhout, Rentia Engelbrecht, Jamie-Lee Nortje with Prof Milagros Rivera (Head of Department of Communication Science).

Jolandi Bezuidenhout, Rentia Engelbrecht, and Jamie-Lee Nortje are the names behind the award-worthy A-Step programme. These lecturers in the Department of Communication Science at the University of the Free State (UFS) have been facilitating extra class for students in the extended programme since 2008. On 12 November 2015, they celebrated a major milestone when the programme received the Excellence in Teaching and Learning Innovation Award.

The annual awards are hosted by Dr Lis Lange Vice-Rector: Academic at the UFS, and administrated through the Centre for Teaching and Learning (CTL).

It was the first time that the Faculty of the Humanities had received the award. The lecturers were named the Best Teachers in the UFS, emerging in first place in the category: Student Engagement and Learning.

The A-Step sessions form part of a governmental programme dedicated to supporting students by offering diverse curriculum-related activities. Students attend two classes per week where they are equipped with language and life skills. As of 2015, the sessions were expanded to benefit not only the extended programme but all 788 students in Introduction to Verbal and Nonverbal Communication (KOM114).

“The activities are based on theoretical work we do in the mainstream classes,” explained Nortje. Primarily, the activities are meant to “help the student engage the work in a meaningful way so that they can understand it,” she said, which is why the sessions are designed in a fun and creative way.

The ‘Best Teachers’ organised and developed the A-Step sessions collectively and diligently over the years. The award, and the improved students’ academic performance, bears testimony to the effectiveness of their teaching style.

Marissa Grobbelaar, the Academic Staff and Development Project coordinator at the CTL, commended the lecturers’ efforts. Grobbelaar believes that “the way they approached their teaching and the passion which was evident in it,” was one of the reasons they deserved the award.

A former A-Step student, Rorisang Sekhasa, attested that, “the programme was very helpful because you get to have one-on-one sessions with your lecturer, and understand the work better. What was done in class is elaborated on in detail.”

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