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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

Nat Nakasa the inspiration behind UFS academic’s PhD thesis
2017-01-09

 Description: 001 Dr Willemien Marais Tags: 001 Dr Willemien Marais

Photo: Supplied

“I’m interested in alternative ways of approaching things, so I wanted to look at how journalism can be used in an unconventional way to contribute to a developing society.”

This is why Dr Willemien Marais, a lecturer in the Department of Communication Science at the University of the Free State (UFS), decided to title her thesis: Nat Nakasa as existential journalist, describing a form of journalism that places emphasis on the individual’s experiences.

“Existentialism is a philosophy that provides scope for an individual approach to life, and I like Nat Nakasa’s writing because of his excellent sense of humour despite his horrific circumstances as a black journalist during apartheid,” she says.

A practical approach to writing

Dr Marais analysed Nat Nakasa’s approach to journalism through articles he wrote in the early 1960s. She searched for relevant themes of existentialist philosophy in Nakasa’s work in order to prove that he could be read as an existential journalist.

She mentions that in terms of contemporary relevance, Nakasa’s approach to journalism suggests that existentialism could provide the journalist with a practical approach to writing, especially for those journalists working in developing societies.

“The relevance of this approach lies in the fact that any society is always between things – the old and the new – which might require the journalist to operate outside the boundaries of conventional journalism.”

This study was qualitative in nature because of the interpretation required. She mentions that it was basically one of many possible interpretations of Nakasa’s work; with this one using existentialism as a lens.

An intellectually stimulating thesis

Dr Marais quotes French existentialist Jean-Paul Sartre, who said that interpreting someone’s work, especially someone who was no longer alive, was open to “thousands of shimmering, iridescent, relevant meanings”, and her research represents one of these possible meanings of Nakasa’s work as a journalist.

When asked how long she had worked on her thesis, Dr Marais simply answered “too long!” She mentions that her thesis was initially more of an intellectual exercise. Whereas the actual act of writing took about four months, she spent many years thinking about the topic. “Now that all is said and done, I realise I had to grow into the topic. It took me a while to realise that true understanding does not come overnight!”

Dr Marais mentions that other than herself and the work of Nat Nakasa, there were no other roleplayers involved. “For many, many years it was just Nat Nakasa and I. It was frustrating and exhilarating all at the same time.”

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