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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

Statement by Judge Faan Hancke, Chairperson of the Council of the University of the Free State (UFS)
2008-03-08

The Council of the University of the Free State today (Friday, 7 March 2008) unanimously condemned the offensive and racist Reitz video in the strongest possible terms.

Council further labeled the video as an insult to women, to older persons and to poor working people who are defenseless and vulnerable and expressed its disgust at the action of the students concerned.

Council also apologised unreservedly and sincerely to the five UFS employees who were shown in the video and offered all emotional and counselling assistance necessary as well as in the current criminal matter under way or possible civil action they may undertake.

At the same time the university must also provide counseling to current first year students of Reitz who were not present at the time of the filming of the video.

Council also mandated the management, in addition to the other disciplinary steps under way, to consider the possibility of closure and of conversion of Reitz into a beacon of transformation, hope and liberation (either as a residence or in some other form).

This must take place in accordance with due process of the law to give residents and other stakeholders reasonable opportunity to make submissions so that all relevant considerations can be taken into account.

The Council expressed its full confidence in the management and supported the steps taken by management thus far under trying circumstances concerning transformation, residence integration, the Reitz video and the vandalism of the campus.

It reaffirmed the decision taken in June 2007 to increase diversity in student residences and recommitted the UFS to implement the policy.

The Council condemns all forms of racism and committed itself to eradicate racism and racial prejudice in any form and from any quarter on the UFS campus.

The meeting also approved the appointment of an external expert agency to assist the university in:

  • understanding and identifying the current challenges relating to the implementation of the integration policy 
  • supporting the university management and making recommendations on how to enhance the process of implementation

The intention is to provide additional capacity to the management in order to accelerate the transformation and integration process.

It called on management to take firm action against any staff or student who violates the law, is involved in threats, racism, disruptions, intimidation and vandalism and condemned these actions in the strongest possible terms.

The Council reassured all staff, students, parents and other stakeholders that firm action will be taken against persons who are guilty of disorderly conduct, intimidation, disruption or similar actions with the full force of the law.

The management was requested to maintain law and order so as to create a conducive environment in which academic excellence can be furthered. The Council appreciates the steps that have been taken in this regard.

The Council supported a management initiative to investigate the fundamental issues underlying many of the current problems in residences, including:

  • residence culture, including initiation, as well as race, racialism and racism
  • alcohol and drug abuse role,
  • place, organisation and management of residences constitution of student structures
  • and the role of political parties in student politics and structures
  • the physical structure of residences as part of a campus accommodation strategy

The Council agreed that social cohesion and racial tolerance will be highlighted as a strong theme in the academic cluster initiatives of the UFS and that management should find additional ways to strengthen existing programmes regarding diversity on the campus among all staff and students.

The Council called on all stakeholders to honour the high values of the Constitution of the country, to maintain these values and to further them in an orderly and peaceful environment.

Media Release
Issued by: Anton Fisher
Director: Strategic Communication
Tel: 051 401 3422
Cell: 072 207 8334
E-mail: fishera.stg@ufs.ac.za
7 March 2008

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