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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

Translation Day Seminar
2007-10-22

Subverting the West? Engaging language practice as African interpretation.

With the above-mentioned title in mind, about 30 people gathered at the Main Campus of the University of the Free State (FS) in Bloemfontein for a Translation Day Seminar. The day was attended by academics, language practitioners, government departments, students, and other stakeholders in language practice.

Prof. Jackie Naudé, the Programme Director for the Programme in Language Practice at the UFS, gave a short historical overview of developments in research and training in language practice of the past decade. He argued in favour of a socio-constructivist approach to teaching and research in language practice. His point was that students need to be given the opportunity to engage with the complexities of real-life problems, specifically the complexities of the African context.

Dr Kobus Marais, Senior Lecturer in Translation Studies at the UFS, gave an overview of the state of the art of translation research. This meant that language practitioners are agents in communication, not mere conduits of meaning. He argued that translators’ agency implied that they have to make informed choices, the most important of which is whether to indigenise or foreignise when translating. He developed wisdom as a notion in translation, indicating that translators need to be wise to interpret their context and translate in such a way that (Western) ideology does not ride piggy-back on their translations into the African target culture.

Prof. Joan Connoly, Associate Professor in the Centre for Higher Education Development at Durban University of Technology (DUT), took the audience on a breathtaking journey on the topic of oral knowledge. Her presentation showed examples, both European and African oral knowledge and had a clear message for language practitioners: What can Africans learn from the Western mind? Her answer: "Africans can learn how easy it is to loose one’s oral knowledge base. Africans can look at the West and see what the consequences are when a culture loses its oral-based knowledge. Language practitioners have it in their power to consider this possible loss and do something about it."

Lastly, Ms Lolie Makhubu, Head of the Department of Language and Translation at DUT, spoke about enticement in interpreting to use loan words to impress either the audience or peers or clients. Her argument boils down to the interpreter’s attitude towards African culture and language. If Western culture is regarded as higher than African culture, interpreters will be tempted to boast their knowledge of Western culture by means of their choice of words. However, if interpreters are “Proudly South African”, as she put it, they have not need for showing off by using loan words.


 

Dr Kobus Marais (Senior Lecturer in Translation Studies at the UFS) during the seminar.
Photo (supplied)

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