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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 first to mechanise agricultural technique

2006-05-09

Small farmers from Thaba `Nchu were the biggest group attending the farmers day at the UFS Paradys experimental farm. From the left are Mr David Motlhale (a small farmer from Thaba 'Nchu), Prof Leon van Rensburg (lecturer at the UFS Department of Soil, Crop and Climate Sciences and project leader), Mr Nhlonipho Nhlabatsi (Agricultural Research Council, Glen), Ms Meisie Mthethwa (small farmer from Bloemspruit). In front is Mr Patrick Molatodi (chairperson of the Tswelopele Small Farmer Association).

Some of the participants of the farmers day at the UFS Paradys experimental farm were from the left Prof Leon van Rensburg (lecturer at the UFS Department of Soil, Crop and Climate Sciences and project leader, Mr Patrick Molatodi (chairperson of the Tswelopele Small Farmers Association) and Prof Herman van Schalkwyk (Dean: UFS Faculty of Natural and Agricultural Sciences).

UFS first tertiary institution in world to mechanise agricultural technique
The University of the Free State (UFS) is the first tertiary institution in the world to mechanise the in-field rain water harvesting technique on a commercial scale.

The technique was recently demonstrated to about 100 small farmers at the UFS Paradys experimental farm outside Bloemfontein.

“With this technique rain water is channeled to the plant and in this way food security is increased. The advantage of the technique for commercial farmers lies in the reduced cultivation of land. Small farmers will benefit from this because they can now move out into the fields and away from farming in their back yards,” says Prof Leon van Rensburg, lecturer at the UFS Department of Soil, Crop and Climate Sciences and project leader.

Rain water harvesting is an antique concept that was used by communities before the birth of Christ. In South Africa the technique is mainly used in the plots of small farmers where they make surface structures by hand.

"The technique is also used for the first time by the UFS on commercial scale by means of the cultivation of a summer crop on 100 ha at the Paradys experimental farm,” says Prof Leon van Rensburg,

Of the farmers who attended the farmers day most represented about 42 rural communities in the vicinity of Thaba ‘Nchu. A group of seven from KwaZulu-Natal also attended the proceedings. These small farmers can for example apply this technique successfully on the 250-300 ha communal land that is available in the Thaba ‘Nchu area.

The project is funded by the UFS and the National Research Foundation (NRF) and the farmers’ day was funded by the Water Research Commission.

Media release
Issued by: Lacea Loader
Media Representative
Tel: (051) 401-2584
Cell: 083 645 2454
E-mail: loaderl.stg@mail.uovs.ac.za
9 May 2006

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