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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

2011 Leadership group meets for the first time
2011-08-01

 

Photo: Hannes Pieterse

The long application process, panel interviews and nail-biting wait finally came to an end the past week, when the cream of our first-year class of 2011 gathered in the Scaena Theatre on our Bloemfontein Campus, for their first group meeting as the selected Leadership for Change cohort.

These 150 students, from all our faculties, will over the following year be groomed to be leaders, not only at the university, but also in their respective fields and chosen careers.
The first group of students will depart for their respective universities in America and Europe on 22 September 2011, where they will spend two weeks. The second group of students will depart for universities in Japan in January 2012.

Although they have all passed a gruelling selection process, the real hard work is only starting now for these bright young students.

The programme will take place in four phases. During the preparation phase, which has now kicked off, students are prepared for the experience ahead, while being made aware of exactly what to expect from the programme.

In the study-abroad phase, students will be placed at 15 partner institutions in various countries, and will be divided into groups of six to twelve people. According to Prof. Aldo Stroebel, Director of International Academic Programmes, the groups will be diverse, in that there will be a mix of races, genders and study fields, which should guarantee dynamic interaction.

During the group’s first meeting this week, they were informed of the important goals of the Leadership for Change Programme, by Mr Rudi Buys, Dean of Student Affairs.

He imparted the gravity of their selection on the students by saying, “You may not get it yet, but I understand the reason we are all here. I understand that by looking at what you achieve after this programme, we can tell what the country could possibly achieve in the future. It is immensely moving to see the way you all carry yourselves, since I can see something special and unique in each of you.”
“You are all here, not because of which school you went to, or your race, or who your parents are, but because you all show potential to be something great.”

Prof. Stroebel reminded the group that despite the excitement that they all have about visiting universities in America, Europe and Asia, these visits should be seen as study trips.

“You may have three days to acquaint yourselves with the surroundings, but after that there will be very little sightseeing and a lot of hard work.”

They will participate in programmes designed by their respective host institutions, aimed at exposing them to different cultures, lifestyles and beliefs.

They will be accompanied by our staff, who Prof. Stroebel says will grow with the students, as they will be expected to guide the students through their tasks and assignments and interact with them on a daily basis.

Upon their return, there will be a debriefing phase, during which they will be expected to provide feedback on their experiences, as well as submit assignments which they will be assigned at their respective institutions.

The final phase is known as the impact phase, as this will see the students apply what they have learned in a positive manner and help drive the university to the future and to becoming a world-leading tertiary institution.

 

Media Release
1 August 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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