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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

Chemistry research group receives international recognition
2016-10-28

Description: Chemistry research group  Tags: Chemistry research group

Dr Carla Pretorius mounts microcrystals with
Dumisani Kama while Pennie Mokolokolo
observe the technique.
Photo: Supplied


Crystals and crystallography form an integrated part of our daily lives, from bones and teeth, to medicines and viruses, new catalysts, jewellery, colour pigments, chocolates, analysing rocks on the moon and Mars, electronics, batteries, metal blades in airplane turbines, panels for solar energy and many more.

In spite of this, not many people know much about X-ray crystallography, although it is probably one of the greatest innovations of the 20th century, spanning the sciences. That is why this discipline is actively researched by a number of tertiary institutions around the globe as well as the Inorganic Chemistry Group of the Department of Chemistry at the University of the Free State (UFS).

Research by the Inorganic Chemistry Group includes:
•    clever design of model medicines to better detect cancer and study heart, bone and brain defects;
•    production of new compounds for making new and better automobile fuels and decrease carbon dioxide in the atmosphere;
•    generation and purification of new South African mineral resources for metals widely used in turbines which use wind energy.

A group of UFS students have received acknowledgement for their research at six international venues in the past few months.

Posters in Cameroon
Twelve postgraduate students, together with Prof André Roodt, Head of the Inorganic Chemistry division at the UFS, delivered three oral presentations, nine posters, one plenary and one keynote lecture abroad.

Four UFS students - Nina Morogoa, Pheello Nkoe, Alebel Bilay, and Mohammed Elmakki - who delivered posters at the First Pan African Conference on Crystallography in Dschang, Cameroon, received prizes for their presentations.

School and conference in Croatia

Students Orbett Alexander and Dumisani Kama were selected to attend the intense and demanding Third European Crystallographic School in Bôl, Croatia. Both Kama, Alexander and Prof Roodt gave oral presentations at the 24th Croatian-Slovenian Crystallographic Meeting at Brac Island, Croatia.

Kama, together with Dr Ferdi Groenewald, Dr Carla Pretorius and Pennie Mokolokolo, also attended the European Synchrotron Radiation Facility (ESRF) in Grenoble, France. The ESRF is a centre of excellence for fundamental and innovation-driven research. The storage ring at this laser facility can generate X-rays 100 billion times brighter than typical medical and laboratory X-ray sources.

Research in Switzerland

Kama and Mokolokolo also spent one month on research visits at the University of Zurich in Switzerland. Both Kama and Alexander were invited to present their research orally to the Institute of Inorganic Chemistry in Zurich, headed by Prof Roger Alberto.

In Basel, Switzerland, Dr Ferdi Groenewald, Dr Renier Koen, and Dr Truidie Venter all presented their research at the 30th European Crystallographic Meeting.

Prof Roodt said: “It is incredibly important that our postgraduate students get the chance to interact, discuss, and be taught by the best in the world and realise that hard work on basic and applied chemistry processes leads to broader recognition. The delegates to these international venues came from more than 60 countries and took note of our students work. With these young researchers, our future at the UFS and at Inorganic Chemistry is in good hands”.

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