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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 Council confirms decision to integrate student residences
2007-09-14

At its quarterly meeting held today (Friday, 14 September 2007) the Council of the University of the Free State (UFS) confirmed the decision taken at its previous meeting that the student residences of the UFS should be racially integrated.

The decision was taken with an overwhelming majority with only one vote against it and will be implemented in January 2008.

The Council tabled and noted the resolution of the Convocation of 11 September 2007 concerning the Council’s initial decision of 8 June 2007 and urged the management to continue to be sensitive, empathetic and inclusive in dealing with the concerns and views of all stakeholders.

The Council also gave all interested parties the assurance that any suggestions that could assist in the successful implementation of its decision would be considered and called once again on all stakeholders to make proposals to the management of the UFS so as to ensure a well-managed process of integration and managing diversity in residences.

In this regard it welcomed the suggestion made by the alumni of the UFS for the introduction of a Diversity Scorecard for residences which would include a multi-dimensional range of indicators and incentives for residences. This could include the diversity profile of a residence, the academic performance of the students in a residence, inter-residence activities and community service projects launched by students.

According to the Rector and Vice-chancellor of the UFS, Prof. Frederick Fourie, the Council hereby also restated the educational motive for the integration of residences, which meant that from an educational point of view, students who had the knowledge and skills to manage diversity would have a distinct advantage in the workplace and in life.

“Today’s decision is a major step forward for the Council and the UFS to achieve a broad consensus around the promotion of diversity at the UFS and in its residences, as the institution has always been committed to giving the best education to students in a diverse and non-racial environment. I would like to call on current students, prospective students, parents, alumni and other stakeholders to make this work in the best interests of the university and its students,” Prof. Fourie said.

He added that the UFS had established several task teams comprising staff and students to implement the Council’s decision of 8 June 2007 and that much work had already been done to identify critical areas and tasks ahead of implementation in January 2008.


Media Release
Issued by: Lacea Loader
Assistant Director: Media Liaison
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za
14 September 2007
 

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