By Moleboge Motlanthe, Mueletshedzi Siphuma and President Setumu
Financial freedom does not begin after graduation it starts with the choices students make while still on campus. This message took centre stage during a two-day financial literacy workshop hosted at the University of Limpopo, where students were equipped with practical money-management skills to prepare them for life beyond university.
Organised in collaboration with the Financial Sector Conduct Authority (FSCA) and other financial stakeholders, the workshop aimed to empower students with essential knowledge on budgeting, saving, investing, responsible credit use, taxation, fraud prevention, and consumer rights.
Nokuthula Ndlovu, Social worker at the University of Limpopo. Photo by: Mohau Seleka
The programme was facilitated by university social workers Nokuthula Ndlovu and Nokthula Ndou, who welcomed students and encouraged them to be open to learning about finances, especially as many navigate financial independence for the first time.
Representatives from various financial institutions, including Postbank, African Bank, Nedbank, First National Bank (FNB), and Consumer Profile Bureau (CPB), shared insights into building healthy financial habits.
Take care of the cents, the rand will take care of itself” said Modiba Raymond. Photo by: Mohau Seleka
Raymond Modiba from Postbank emphasised the importance of budgeting, unpacking the five key components and encouraging students to understand their income and expenses. He reminded students that financial discipline starts small, noting that taking care of minor expenses helps secure long-term financial goals.
Mpho singo from African Bank. Photo by: Mohau Seleka
Savings and investment strategies were explored by Mpho Singo from African Bank, who introduced students to tax-free savings accounts and fixed deposits. She highlighted that wealth building does not require large sums and that saving consistently, even in small amounts, can make a significant difference over time.
Digital banking innovation also featured, with Gert Adam from Nedbank introducing students to Lwazi, a chatbot designed to help customers access banking information quickly and conveniently.
Lerato Mashego, Representative of the Letsatsi finance and loan company. Photo by: Survive Mokoena.
Responsible borrowing formed a key part of the discussions. Lerato Mashego from Letsatsi Finance and Loan cautioned students against unnecessary debt, stressing the importance of understanding personal spending behaviour and emotional “money triggers.” She advised that taking on debt without stable income can lead to long-term financial strain.
Credit education was further expanded through presentations on affordability assessments, repayment responsibilities, and credit profiles. Students were encouraged to regularly check their credit reports to better understand how financial behaviour affects access to credit.
Tax compliance also received attention, with representatives explaining the importance of registering for tax numbers, using e-filing once employed, and understanding taxable income thresholds to avoid future penalties.
Consumer protection mechanisms were outlined by representatives from the National Financial Ombud Scheme and the FAIS Ombud, who explained how students can resolve disputes and why it is important to verify that financial service providers are registered before entering agreements.
Ephraim Kgosana from Financial sector conduct authority. Photo by: Mohau Seleka
FSCA financial education advisor Ephraim Kgosana highlighted the broader goal of the initiative, stating that the collaboration aims to empower students across higher-learning institutions to make informed financial decisions. He noted the strong student turnout and expressed the need for repeated engagements to reinforce financial knowledge.
Students partaking in the Question-and-Answer session. Photo by: Survice Mokoena
Students described the workshop as eye-opening and practical. Second-year BSc Physical Science and Mineral Sciences student Matjeke Kedibone Anna said the session encouraged her to think long-term and start saving. Other students echoed similar sentiments, praising the use of real-life examples that made complex financial concepts easier to understand.
Ultimately, while a degree may open doors to career opportunities, financial literacy determines whether those opportunities lead to lasting stability or long-term debt. As emphasised throughout the workshop, financial freedom begins not with a first salary, but with informed decisions made today.
