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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

UFS mourns passing away of pioneer

2005-09-30

Prof Dudley Vermaak (76), founder and former director of the University of the Free State’s (UFS) Research Institute for Education Planning (RIEP), passed away on Friday 23 September 2005 in George as a result of a stroke.

Prof Vermaak was associated with the UFS for about 23 years. A Centenary Medal was awarded to him in October 2004 by the UFS for his pioneering work in transformation through his initiatives, during the apartheid era, to empower education officials, teachers and postgraduate students from disadvantaged communities in South Africa.

He did pioneering work in the eighties with the training of black teachers, especially senior officials and managers in black education, and with the research and training on the improvement of education in the black community.

“Prof Vermaak was a visionary person who understood the changing South African context in the eighties and started at an early stage with work to improve black schools and the training of black leaders in the education sector. He was a true pioneer at the UFS. We are thankful that we could honour him for this with a Centenary Medal last year,” said Prof Frederick Fourie, Rector and Vice-Chancellor of the UFS.

RIEP originally started off as the Research Unit for Education Planning in 1974 under the guidance of Prof Vermaak. During the apartheid years the institute was intensely involved with research about education in the former homelands. It was also the only organisation that could provide complete education statistics, which was necessary for planning, about the former homelands.

RIEP was also involved with service delivery to the so-called independent and self-governing states regarding training in management and planning and support. Several education officials from these areas undertook their M Ed and D Ed studies with the help of RIEP. Some post-1994 education and political leaders include e.g. Lionel Mtshali, premier of KwaZulu-Natal in 1999-2004.

Prof Vermaak was cremated in George. A memorial service will be held at 10:00 on Saturday 1 October 2005 at the Berg-en-Dal Dutch Reformed Church in Dan Pienaar. Prof Vermaak is survived by his wife, Marietjie, four children and grandchildren. He lived in Kiepersol Retirement Village in Bloemfontein for the past six years.

Media release
Issued by:  Lacea Loader
   Media Representative
   Tel: (051) 401-2584
   Cell: 083 645 2454
   E-mail: loaderl.stg@mail.uovs.ac.za
29 September 2005

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