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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

UFS hosts first ACS Institute held on African soil
2015-12-08



The first ever Association for Cultural Studies (ACS) Institute hosted on the African continent is taking place on the Bloemfontein Campus. At the event are, from the left: Prof Jonathan Jansen, Vice-Chancellor and Rector of the UFS; Prof Jean Comaroff, Alfred North Whitehead Professor of African and African-American Studies and Anthropology at Harvard University; Prof Helene Strauss, Chair of the Department of English at the UFS; and Prof Gil Rodman, Chair of the Association for Cultural Studies and Professor of Communication Studies at the University of Minnesota.
Photo: Johan Roux

The University of the Free State (UFS) is hosting the 2015 conference of the Association for Cultural Studies (ACS) Institute – the first time for this international event to take place on the African continent.

From 7 – 12 December 2015, some of the world’s leading scholars in cultural studies are taking part in the conference on the Bloemfontein Campus. The event has been organised by the UFS Department of English in collaboration with colleagues from other departments in the Faculty of the Humanities.

 The ACS is the foremost international association for scholars in cultural studies, and has been hosting the biennial Crossroads in Cultural Studies Conference since 2006. In 2011, the ACS held its inaugural institute at the University of Ghent (Belgium), followed, in 2013, by one at the Alpen-Adria University Klagenfurt (Austria). As the 2015 meeting of the institute is the first to be held in Africa, the organisers aim at highlighting the contributions that scholars from our continent and other (post)colonial contexts have made to cultural studies, even as it engaged many of the long-standing theoretical concerns generated for the field by scholars from the Global North.

Themed ‘Precarious Futures’, the conference explores how cultural studies might assist in charting more equitable futures by reflecting critically on the cultural, economic, and political trajectories within which precariousness – a state increasingly anticipated for the planet – might be altered. Experts in a diversity of disciplines are sharing their perspectives in the form of seminars and lectures.

Keynote lectures are delivered by Prof Jean Comaroff (Harvard University), Prof John Erni (Hong Kong Baptist University), Dr Jo Littler (City University London), Dr Zethu Matebeni (University of Cape Town), and Prof Handel Kashope Wright (University of British Columbia).

In her opening lecture on Monday 7 December 2015, Prof Comaroff addressed the challenging relationship of law, detection, and sovereignty in contemporary African polities within the South African post-apartheid context.

Topics discussed include climate change; the archives of everyday life; cross-racial intimacies; ethnography; meritocracy; cultural studies and human rights; China and globalisation; gender, sexuality, and race; and governance, embodiment and the work of care.

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