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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 community makes difference through Big Give Project

2016-06-10

Food for the needy. From left is Annelize Visagie, Health and Wellness;
Vicky Simpson, No Student Hungry Food Bursary Programme;
Elizabeth Msadu, Health and Wellness; and Lorinda Slippers, Student
Representative Council Rag Community Service, at the handover of
the food and cash collected by the RAG Big Give Project.
Photo: Jóhann Thormählen

Thanks to the caring community of the University of the Free State (UFS), students in need were provided for during exams, and will receive more food in the cold winter months.

Once again, staff and students made valuable contributions at the successful RAG Big Give Project, where food contributions of R 38 176.20 and cash donations of R25 000 were received. Staff, residences, and the RAG Committee made these donations as part of the project on 5 May 2016, when contributions were made at the Bloemfontein Campus gates of the UFS. An extra donation by Imperium, a residence on the Bloemfontein Campus, of R20 000 for FutureLife helped to achieve the grand total of food contributions.

According to Vicky Simpson, Assistant Officer at the No Student Hungry Food Bursary Programme (NSH), the food donation is for a designated group of students who have already been identified as food insecure by the social work office. “It will be distributed to them on a monthly basis,” she said.

The handover of food collected was done on 25 May 2016 at the RAG Food store by the RAG Office to Health and Wellness and the NSH. The RAG Office thanked the UFS community for its contributions to the project. Parexel, who made cash and food donations, received special mention. Simpson said “the food will make a huge difference in the lives of students who do not know where their next meal will come from”.

According to Jaco Faul, Senior Assistant Officer Rag CS, his office is already looking forward to the next instalment of the Big Give Project. “We challenge faculties and staff members for the forthcoming Rag Big Give project in October to see if we can beat the amount collected this time.”

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