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01 April 2021 | Story Dr Nitha Ramnath | Photo Supplied
Back: Dr Nico Keyser (editor), Dr Ivan van der Merwe. Front: Minette Weideman (Portfolio Manager at Levevis Investment and Consulting Services), Melanie Ferreira (Business Development Manager at Allan Gray), Dr Cecile Duvenhage (editor) and Lizelle Jansen van Rensburg (Lecturer). Dr Jesse de Beer (Lecturer at University of Namibia) was absent.
Two lecturers from the Department of Economics and Finance at the University of the Free State (UFS) teamed up with alumni – who were once students in their department – to write a book on personal finance. This book is the latest hands-on application of the theory in practice.

“From the book it is evident how our alumni – who once were learners – became educators and contributed to teaching and learning,” says Dr Cecile Duvenhage, Lecturer in the Department of Economics and Finance, about the book Personal Finance. The desire to write this book stems from previous studies done by Dr Duvenhage and Dr Nico Keyser, Senior Lecturer, on the financial literacy levels among young adults. 

One such study was published in the Journal of Psychology in Africa (29(4):460-465). According to the study, young adults lack the basic understanding of financial aspects. Theory can be learned by heart, but the understanding and execution of well-informed financial decisions need to be addressed. Thus, the book was written in such a way that it is easy to understand, and with the aim of changing financial behaviour and attitude in a positive manner. The book provides useful websites and appendices for additional information and reading, and is aimed at the man on the street, researchers, and practitioners. 

Acording to the authors, during the writing of the book in 2020, new challenges arose, including the dramatic impact of COVID-19 on the financial market, and these aspects were included during the final stages and editing of this book. 

“Why personal finance? ‘Money makes the world go round’, the saying goes. Good financial decision making has a positive influence on overall well-being, allowing people to maximise their opportunities and lead more fulfilling lives. Personal finance teaches individuals financial skills so that they can manage their money better. The subject, Personal finance, is an interdisciplinary subject and encompasses many areas and core topics such as decision making, cash-flow management, savings, credit, debt, housing, and planning for the future.” 

Personal Finance (first edition) was published by Van Schaik Publishers and has been available from leading bookshops since the end of December 2020.  All chapters were critically reviewed by three (3) university lecturers and a qualified editorial panel.

News Archive

R2,5 million received from FNB Fund for Universal Access and Disability Support
2017-10-18

Description: FNB CUADS Funding Tags: FNB CUADS Funding
Tinotenda Magaya (left at the back), Robert Shoba and
Manus van Rooyen are some of the CUADS students
who will benefit from the money donated by the FNB Fund.
In front are Martie Miranda (left), Head of CUADS, and
Thandeka Rantsi from the FNB Fund.
Photo: Jóhann Thormählen

Funding isn’t only about giving money to provide access to education. There are many factors that contribute to the successful completion of studies, and this is even more applicable to students with disabilities. 

That is why the FNB Fund decided to continue and further its relationship with the Center for Universal Access and Disability Support (CUADS) at the University of the Free State (UFS). The fund recently donated nearly R2.5 million for 2017, 2018, and 2019 to CUADS in order to assist students with tuition fees, study material, accommodation and supportive devices. 

A total of 11 students will benefit from the R 2 497 440. The UFS previously received R200 000 (2014), R238 000 (2015), and R192 500 (2016) from the FNB Fund.

“The FNB Fund would like to take it
a step further and not only provide
access in terms of funding, but also
provide all the support that
students require to be able
to complete their studies.”

Funders should be aware of challenges

“The FNB Fund would like to take it a step further and not only provide access in terms of funding, but also provide all the necessary support that students require to be able to complete their studies,” says Thandeka Rantsi from the FNB Fund.

The fund also partners with disability units from the University of Stellenbosch, the University of the Western Cape, and the University of Cape Town.

Rantsi says funders should be aware of the challenges students with disabilities face in order to provide the right support as their challenges are more extensive.

More flexible funding than others

Martie Miranda, Head of CUADS, says they are very grateful. “In comparison with other funding, this funding provides more flexibility. Because of the gap between government funding and students’ needs, there are always students who fall out of the criteria for the NSFAS bursary. Then the FNB funding comes in very handy.”

According to her, government funding is never enough. She says the FNB funding enables them to address specific needs such as equipment, accommodation etc. as they have more leeway than prescribed NSFAS amounts.

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