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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.

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"Studies indicate disability, poverty and inaccessibility to healthcare are intricately linked " - expert opinion by Dr Magteld Smith
2014-12-03

Dr Magteld Smith

Programmes worldwide attempt to improve the lives of people with disabilities, but recent studies indicated that disability and poverty, as well as disability and the inaccessibility of health care, continues to go hand in hand.

In South Africa, and even in developed countries, research shows that people with disabilities achieve lower levels of education with higher unemployment rates, live in extreme poverty and have low living standards.

“To have a disability can therefore become a huge financial burden on either the disabled person, the family or caregivers,” says Dr Magteld Smith from the Department of Otorhinolaryngology.

She devotes her research to the medical-social model of the global organisation, the International Classification of Functioning, Disabilities and Health, focusing on all areas of deafness.

Furthermore, Dr Smith says it is more difficult or more expensive for people with disabilities to obtain insurance, because of the risks associated with disability.

Dr Smith also emphasises the inaccessibility and even unavailability of medical services or health care for people with disabilities.

“Services such as psychiatry or social services are often not accessible. When such services are available, it is not affordable for most people with disabilities.”

Dr Smith uses the example of a person who was born deaf:

“Doctors have limited knowledge of the different types of hearing impairments or how to read and interpret an audiogram. Very little understanding also exists for the impact of deafness on the person’s daily life.”

Dr Smith, who is deaf herself, describes the emotional state of mind of people with disabilities as a daily process of adjustment and self-evaluation.

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