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Department of Economics and Finance took hands with alumni students in writing a book

01 April 2021 | Story Dr Nitha Ramnath | Photo Supplied

Personal finance authors_web read more — 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

Golden Key International Chapter again receives prestigious award for service

2011-05-04

The management team of our university's Golden Key (GK) International Honours Society
Photo: Gerhard Louw

Our universities chapter of the Golden Key International Honours Society is the proud recipient of the Golden Key International Chapter Service Award for the second consecutive year.

The chapter received this $1000 award in recognition of the services they deliver to the community of the Free State and the hard work each of their members put in to ensure that their community projects run smoothly.

Mr Ruddy Banyini, the chapter president, says they feel very privileged to know that the chapter’s work receives international recognition. “We feel so privileged that the work of our chapter is appreciated internationally and that it will serve as motivation to everyone to start giving back to their communities,” he said.

The UFS chapter adopted The House of Compassion, an orphanage on the outskirts of Bloemfontein, at the start of 2010. They have collaborated with associations such as the PSA and visit the house on weekends to play with the children. They have also donated food, clothing and shoes. “Our chapter’s motto is ‘It’s not how happy we are that matters, but how happy others are because of us’” Mr Banyini said.

The chapter was selected as one of the 10 most deserving chapters from a possible 390 university and college chapters worldwide, based on their community-service activities. The chapter was also selected to host the South African Regional Golden Key Summit from 06 - 08 October 2011, which means that our university will host the top 15% of achievers from all South African universities.

Mr Banyini said this is a dream come true, since their chapter’s main goal is to see our university as South Africa’s Golden Key reference point.

The GK UFS Chapter will soon be starting a “Together means Warm” campaign which will attempt to provide winter clothes, shoes and new school shoes to the children of the orphanage and also improve their living condition.

“I would like to urge everybody to keep in mind that the community is everyone’s responsibility,” Mr Banyini said.

Media Release
4 May 2011
Issued by: Lacea Loader
Director: Strategic Communication
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: news@ufs.ac.za

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