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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 hosts colloquium on technological higher education
2016-10-27

Description: Technology colloquium Tags: Technology colloquium

Prof Lew Zipin, Prof Sechaba Mahlomaholo,
Prof Marie Brennan and Dr Milton Nkoane,
attended the Faculty of Education’s colloquium
on the field of technological higher education
and its contribution to the knowledge society,
at the UFS Bloemfontein Campus. 

The University of the Free State’s (UFS) Faculty of Education, in collaboration with the Research and Development Unit from the Central University of Technology (CUT), hosted a colloquium on the field of technological higher education and its contribution to the knowledge society. Prof Marie Brennan and Prof Lew Zipin, both from Victoria University in Melbourne, Australia, presented the keynote addresses of the colloquium.

The past, present and future
The current fees protests in South Africa have caused universities to rethink and strategise new ways of delivering knowledge. Prof Brennan cautioned that when moving towards technological solutions for teaching, a crucial balance between past knowledge and practices and present and future knowledge and practices needed to be maintained.
“Knowledge is always dynamic, always generated from live problems, and therefore always relies on social interactions. Face-to-face interaction is removed by intense interaction with technology. If knowledge is presently linked to technology, we as academics must be able to move it. However, we should not neglect the indigenous knowledge that was generated through face-to-face interaction,” said Prof Brennan.
She purported that a reconnection between social relations and technology was important but to achieve this, a clearer pedagogical understanding of knowledge production was needed.

Never simplify complex problems

Prof Zipin said academics were constantly seeking complex problems and therefore could not reduce the complexity of a problem to simplify it for students entering the higher education space.
“We need to become a knowledge society. Ideologies often sway us not to look at the complexities of knowledge otherwise these ideologies would not be persuasive,” said Prof Zipin.

Is the technological move counterproductive?
Prof Zipin also cautioned that the move towards technological means for transferring knowledge had its own drawbacks. Institutions are a knowledge economy and its product is human capital. However, producing graduates who catered only to a technological society created downward mobility.
“People’s jobs are replaced by technology. This causes wages to decrease significantly because of structural inequalities, the move towards tech-based schooling should be done cautiously,” said Prof Zipin.

Simplicity not the ultimate sophistication
Prof Zipin concluded by stating that higher education had a responsibility to give its students the best possible future, this could be done by creating hegemonic relationships between institutions of higher learning, government and the private sector. Academics needed to fill the gap and apply their knowledge by applying complexity to social issues and allowing the complexity of these issues to flourish, the professor said.

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