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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

UFS medical students reach out to the community
2011-04-16

 

The smiles on the children at Beyang Bana Pele Creche in Mangaung were blindingly bright, after their new classrooms and playground were unveiled on Friday 15 April. The creche was renovated by a group of third-year medical students from the UFS.
Photo: Earl Coetzee

A group of third-year medical students from the University of the Free State was responsible for many smiling little faces when they unveiled a entirely renovated crèche to its little students on Friday, 15 April.

Reinhardt Erasmus, Fathima Vawda, Veneshree Govender, Antoi Roets, Riaan Calitz, Motlalepula Mabizela, Tertius Potgieter and Chanel van der Westhuizen were the students responsible for the massive renovation work that went into the Beyang Bana Pele Creché in Mangaung.

The students tackled the project as part of a community service project and ensured that the 30 children who attend the crèche can look forward to coming to a safe healthy environment every day.

According to Riaan Calitz, they started the project at the beginning of the year by doing a needs analysis and talking to the children’s parents and teachers. They also involved the aid of an architect and quantity surveyor to calculate the needs of the crèche.

Next, they had to search for sponsors for their work, and struck it lucky when the Windmill Casino agreed to donate R100 000 to their project. They also managed to raise a further R5 000 as well as approximately R50 000 in goods and services donated by various other companies.

This money was enough to improve the safety at the crèche, install safe gas equipment in the kitchen, improve the insulation to ensure a warm winter, install new playground equipment and host several health and safety workshops.

“It took a lot of late nights and early mornings,” Calitz said. “Some of us also had to return from our holiday early, but it was worth it.”

He says the gratitude from the school’s children and teachers, as well as community members, who would stop and thank them for their help while they were busy working, makes it all worthwhile.

The students plan to stay involved with the crèche and say the renovation plan was drafted in such a way that when they move along, another group can simply pick up from their work with ease.

Mrs Sarah Mothoana, the crèche matron, thanked the students as well as everyone who assisted them in “creating a wonderful, safe and healthy environment for the children.”
 

 

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