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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

Sunflowers are satellite dishes for sunshine, or are they?
2016-07-20

Eighty-six percent of South Africa’s
sunflowers are produced in the
Free State and North West provinces.

Helen Mirren, the English actress, said “the sunflower is like a satellite dish for sunshine”. However, researchers at the University of the Free State (UFS) have found that too much of this sunshine could have a negative effect on the growth of sunflowers, which are a major source of oil in South Africa.

According to Dr Gert Ceronio from the Department of Soil, Crop, and Climate Sciences at the UFS, extremely high soil temperatures play a definite role in the sprouting of sunflower seedlings. Together with Lize Henning, professional officer in the department, and Dr André Nel from the Agricultural Research Council, he is doing research on biotic and abiotic factors that could have an impact on sunflowers.

Description: Sonneblom 2 Tags: Sonneblom 2

Various degrees of deformity (bad-left
to none-right) in seedlings of the same
cultivar at very high soil temperatures.
Photo: Dr Gert Ceronio

Impact of high temperatures on sunflower production

The Free State and North West provinces, which produce 86% of South Africa’s sunflowers, are afflicted especially by high summer temperatures that lead to extremely high soil temperatures.

Dr Ceronio says: “Although sunflower seeds are able to germinate at temperatures from as low as 4°C to as high as 41°C, soil temperatures of 35°C and higher could have a negative effect on the vegetative faculty of sunflower seedlings, and could have an adverse effect on the percentage of sunflowers that germinate. From the end of November until mid-January, this is a common phenomenon in the sandy soil of the Free State and North West provinces. Soil temperatures can easily exceed the critical temperature of 43°C, which can lead to poor germination and even the replanting of sunflowers.”

Since temperature have a huge impact not only on the germination of sunflower seeds, but also on the vegetative faculty and sprouting of sunflower seedlings, Dr Ceronio suggests that sunflowers should be planted in soil with soil temperatures of 22 to 30°C. Planting is usually done in October and early November. Unfortunately, this is not always possible, as soil moisture is not optimal for growth. Farmers are then compelled to plant sunflowers later.

Impact of herbicides on sunflower growth

“High soil temperatures, combined with the herbicide sensitivity of some cultivars, could lead to the poor development of seedlings," says Dr Ceronio.

The use of herbicides, such as ALACHLOR, for the control of weeds in sunflowers is common practice in sunflower production. It has already been determined that ALACHLOR could still have a damaging effect on the seedlings of some cultivars during germination and sprouting, even at recommended application dosages.

“The purpose of the continued research is to establish the sensitivity of sunflower cultivars to ALACHLOR when exposed to high soil temperatures,” says Dr Ceronio.

 

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