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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

Sought-after fellowship for Deaf Kovsie academic

2012-04-25

Magteld Smith
Photo: Provided
25 April 2012

For a Deaf person to achieve academic excellence in a sound-dominated world is extremely challenging, but Ms Magteld Smith sees each challenge as another opportunity.

Ms Smith, a Medical Social Researcher at the University of the Free State (UFS), recently received the Herbert H Humphrey fellowship. She is one of only two South Africans to receive this fellowship.

The Humphrey Fellowship Program provides mid-career professionals from designated countries around the world with an opportunity to enhance their professional capabilities through participation and is developed specifically for small clusters of Humphrey Fellows at 18 selected US universities.

It was initiated in 1978 to honour the memory and accomplishments of the former Senator and Vice-President, Humbert H. Humphrey. Fellows are selected based on their potential for national leadership and commitment to public service, in either the public or private sector. The programme provides a basis for establishing long-lasting productive partnerships and relationships between citizens of the United States and their professional counterparts in other countries, fostering an exchange of knowledge and mutual understanding throughout the world.

Ms Smith applied for this fellowship, but was still very surprised when she heard her application was successful.

“Upon receiving the news, in my mind I saw an enormous rotating world globe and I asked my Heavenly Father, "What is happening now?" I saw big libraries with books, laboratories, state of the art technology for people with hearing impairments, big cars, big houses, big trucks, big farmers, big women and the White House with big trouble. Furthermore, I saw how the UFS became the world leader of academic excellence and change for people with disabilities with high technology manufacturing and rehabilitation programmes.”

Ms Smith says Prof. Jonathan Jansen, UFS Vice-Chancellor and Rector, is a great asset, because for the first time people with disabilities are high on the priority list.

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