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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 Sasol Library will reopen tomorrow
2007-10-17

The University of the Free State’s (UFS) UFS Sasol Library will reopen again tomorrow (Thursday, 18 October 2007) after a limited fire broke out earlier this morning.

The fire broke out at 05:00 on a work site of a contractor that is carrying out maintenance on the library’s air conditioning system in the machinery room underneath the library.

Employees of the subcontractor were busy replacing the isolation of the air-conditioning when the fire broke out. An employee of the contractor died and one was seriously injured.

The contractor is working on the system at night in order to minimise disruption to library users. The building and books were not damaged.

“The UFS and the contractor exercised strict safety measures before the maintenance project commenced and regular safety training sessions are still presented to employees of the contractor working on the site. The latest training session was done on Monday, 15 October 2007,” said Ms Edma Pelzer, Director of Physical Resources at the UFS.

As a precautionary measure, the library will be closed for the rest of today because of the possible presence of fumes in the building as a result of the fire. A decision was taken to be cautious and to make sure that the air is clean before people are allowed in the library.

The Reitz Dining Hall of the Centenary Complex is available as a temporary study facility for students until 18:00 today. The library will be open again tomorrow (Thursday, 18 October 2007) during normal hours.

Ms Pelzer conveyed her sympathy to the next of kin of the person who died during the fire.

Media Release
Issued by: Lacea Loader
Media Representative
Tel: 051 401 2584
Cell: 083 645 2454
E-mail: loaderl.stg@ufs.ac.za
17 October 2007
 

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