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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

Dying of consumption: Studying ‘othering’ and resistance in pop culture
2014-10-31

 

 

The Centre for Africa Studies (CAS) at the UFS – under the project leadership of Prof Heidi Hudson (CAS Director) – conceptualised an interdisciplinary research project on representations of otherness and resistance.

This is in collaboration with UFS departments such as the Odeion School of Music, the Department of Drama and Theatre Arts, the Department of Fine Arts, the Jonathan Edwards Centre Africa and the Department of Afrikaans and Dutch, German and French.  

In this project, Dr Stephanie Cawood from CAS leads a sub-project on the dynamics of pop culture and consumerism. Her research unpacks and critiques pop culture representations of othering and resistance by engaging with the othering rhetoric of conspicuous consumption as well as the subversive rhetoric or culture jamming at play in various South African youth subcultures.

Consumerism has become the institutional system in which we live our daily lives. Pop culture is the result when multinational corporations take aspects of culture and turn it into commodities with high market value. In pop culture and its manifestation, consumption, marketers and savvy advertising executives have realised long ago that othering and resistance are powerful tools to artificially create empty spaces in people’s lives that can only be filled through consuming.

“The scary thing is in my opinion that everyone has become a market segment, including very young children,” says Dr Cawood.

In his 1934 book, The Theory of the Leisure Class (TLC), Thorstein Veblen coined the term conspicuous consumption to describe the conduct of the nouveau riche. He  contended that when people manage to meet their basic human requirements, any additional accumulation of wealth will no longer relate to function, but will be spent on ostentatious displays of conspicuous consumption or waste. Conspicuous consumption has evolved into invidious consumption where consumption is a mark of one’s superior social status and particularly aimed at provoking envy. The whole point is unashamed one-upmanship.  

“Think of the izikhotane or skothane cultural phenomenon where young people engage in ritualised and ostentatious consumerist waste for social prestige. This is an excellent example of invidious consumption.

“Instead of striving to become good citizens, we have become good consumers and none are more vulnerable than our youth irrespective of cultural and ethnic differences”.

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