Student money matters under spotlight

2015-10-07 06:00
PHOTO: nqobile mtolo

The KwaZulu-Natal Financial Literacy Association (KZNFLA) launched a newspaper aimed at educating tertiary              students about finance matters. At the launch (back) KZNFLA operations manager Sipho Ntombela, (front, fro

PHOTO: nqobile mtolo The KwaZulu-Natal Financial Literacy Association (KZNFLA) launched a newspaper aimed at educating tertiary students about finance matters. At the launch (back) KZNFLA operations manager Sipho Ntombela, (front, fro

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

FROM budgeting for takeaway fried chicken to getting to grasp with terms and conditions of cellphone contracts, the newly launched student newspaper, Young Money, will educate tertiary students on how to save and will put student money matters in the spotlight.

The newspaper aims to educate tertiary students amid high numbers of indebted students.

The newspaper has been made possible through partnerships between the KwaZulu-Natal Financial Literacy Association (KZNFLA), Old Mutual and the Durban University of Technology (DUT).

Articles will be written by DUT journalism students and finance education experts. Young

Mo

ney was launched on 30 September.

KZNFLA executive director Christi Naudé said that the newspaper is designed to help students with budgeting, saving and investing, practical banking issues, contracts, consumer rights and lifestyle choices.

“Following research done on student spending patterns and our own interaction with students during the KZNFLA Start Smart Students Summits at tertiary institutions, we realised­ there is a real need for practical­ financial education designed for all students as many are already indebted even before they earn an income. Bursary holders receive lump sums of money and don’t have a clue how to budget and spend it wisely.

“Students are also targeted by some retail companies and don’t always know their rights and responsibilities,” said Naudé.

She said that by reading Young

Money

, students will learn about saving, investment, debt management and consumer rights. She said it is crucial­ that students learn these habits when they are young as they may be prevented from making bad financial decisions in the future.

“The first edition is a pilot. We anticipate­ publishing it at least annually, but depending on the response to the first edition we may bring it out quarterly in electronic format. We want the newspaper to be interactive and are working on the social links,” she said.

The electronic format will be emailed to the students. KZNFLA is also working on various social media platforms such as Facebook and Twitter to establish an interactive platform with students.

Naudé said that 22 000 copies were printed and they have started to distribute­ them to provincial campuses.

Old Mutual is the main sponsor of the first two editions of Young

Money

, while the KZNFLA’s main funder is Provincial Treasury.

KZNFLA has partnered with the DUT School of Journalism for the first two editions

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

 
PARTNER CONTENT
INFOGRAPHIC: New thinking required for retirement

Everything we believe about retirement is fast becoming outdated.

PARTNER CONTENT
WATCH: How education can change a life

A university education gives students the chance to create a better future for themselves, their families and to opportunity achieve their dreams.

/News

Book flights

Compare, Book, Fly

Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.