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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 Leads ASGISA Training
2006-07-17

The University of the Free State (UFS) has been appointed as training service provider for the national programme for the creation of small enterprises and jobs in the second economy. This major national programme has a target of creating one million jobs for poor people in rural and peri-urban areas, which forms part of the government’s Accelerated and Shared Growth Initiative (ASGI-SA). The main method of training will be through the formation of self-help groups and cooperatives with access to business support and micro finance.

Prof Frans Swanepoel, Director of the UFS Research Development Directorate, acts as advisor to the national programme leader, Ms Vuyo Mahlati.  Dr Aldo Stroebel, senior researcher at the UFS Research Development Directorate, has been appointed as programme co-ordinator, based at the UFS. Prof Basie Wessels, Director of the  Mangaung-University Community Partnership Programme (MUCPP), has been appointed as the training co-ordinator and Ms Sazini Ndlovu as programme assistant based at the Independent Development Trust (IDT) in Pretoria.

Dr Stroebel has co-ordinated the development of a training programme, while Prof Wessels presented the “training-of-trainers” course at the MUCPP last month. This course was attended by trainers and trainer-assistants, identified and selected by the local economic development groups in each of the nine provinces, as well as trainers from Hand-in-Hand (HiH), an Indian non-governmental organisation acting as counterpart to the UFS in the provision of training.

Pictured here at the training session at the MUCPP were from the left: Prof Frans Swanepoel, Mr Gnanavel Mookkan (HiH), Dr Rendani Ralinala (IDT), Ms Sazini Ndlovu (national programme assistant), Mr Chinnaiah Meenakshisundaram (HiH), Dr Aldo Stroebel, Ms Vuyo Mahlati (national programme leader) and Prof Basie Wessels.

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