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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

First-years welcomed to the Kovsie family

2017-01-30

Description: Prof Francis Petersen Tags: Prof Francis Petersen

Newly appointed Vice-Chancellor and Rector of the
University of the Free State, Prof Francis Petersen during
the first-year welcoming.
Photo: Charl Devenish

“How do you like my new blazer? Do you think these stripes suit me?” These were the words of the newly appointed Vice-Chancellor and Rector of the University of the Free State, Prof Francis Petersen, as he took to the stage in his #ProudlyKovsies blazer to welcome the 2017 first-years to the Kovsie family.

The event, which was also the start of the first-year Gateway Programme, took place on Saturday, 21 January 2017, and saw first-years and their parents make their way to the Red Square on the Bloemfontein Campus where they were formally welcomed.

UFS to produce world graduates
As newcomers, Prof Petersen wanted the fresh faces to feel welcome, to feel a sense of belonging. “You are now a Kovsie, and we want you to experience that Kovsie life until you graduate,” he told them.

During his speech, Prof Petersen reassured parents that the academic year would be completed and that the UFS would operate as an institution. He encouraged the students to absorb and gain knowledge and said the university would strive to ensure excellent knowledge. “At the UFS, we want to produce graduates for the world, and we need to ensure that we use our knowledge to uplift society,” he said.

Use differences to benefit from one another
KovsieFM presenters, Tshwaro Thothela and Gontse Choane played host to the gathering and Pura Mgolombane, Dean of Student Affairs, encouraged the first-years to use their differences to benefit from one another and to learn from this opportunity. “Make sure that the good that you do is for yourself, for others and for the university,” he said.

Prof Nicky Morgan, Acting Vice-Chancellor and Rector, welcomed Prof Petersen, his wife Cheslyn, and their two sons, Curtis and Clayton, to the UFS.

The newcomers also had an opportunity to visit their respective faculties and get to know the staff and facilities better.

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