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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 responds to media reports about UFS101
2012-08-18

The UFS101 is a cross-disciplinary module of the University of the Free State (UFS) that encourages critical thinking and offers access to knowledge beyond the specific qualifications for which students are registered. This is a multi-disciplinary academic curriculum that includes topics in astronomy, nanotechnology, history, law, anthropology and religion.

Throughout the seven units students are taught to think broadly rather than narrowly, and critically rather than through rote-learning.

The core curriculum module raises some difficult questions about science, humanity and the universe that have occupied human beings for centuries. There is considerable effort put into the module to enable balance, respect, and independent thinking. Students are not taught what to think but are offered different perspectives on difficult issues.

“In my unit on the question ‘how should we deal with the past?’ every effort is made for students to examine the perspectives on history held by people from different communities in South Africa,” said Prof. Jonathan Jansen, Vice-Chancellor and Rector of the UFS.

Students are then encouraged to speak in class, online and in tutorial groups where they are given ample opportunities to take a position and defend it not through emotion and anger, but through logic and reason.

The objective of the module is to equip students to deal with “the present past” in constructive and empathetic ways. They are also prepared to become active citizens outside the classroom and gain skills they can use anywhere in the world.

Some students find the module difficult at first, since most of them are not used to the practice of critical thinking and dealing with difficult questions from the past, the present and the future. Most students gradually come to enjoy the core curriculum module as they become accustomed to a new style of teaching and learning.

There are 700 first-year modules at the UFS. This is the only one module offered to students in English so that all students, local and international, can engage with one another directly on the subject matter discussed in the module. However, the module material is also available in Afrikaans online.It is a pity that AfriForum Jeug Kovsies did not discuss their concerns with the presenters of the module, but chose to do it through the media.

It is a pity that AfriForum Jeug Kovsies did not discuss their concerns with the presenters of the module, but chose to do it through the media.

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