The purpose of this study was to determine the impact of financial problems on the productivity of the employees of the Department of Social Services, Population and Development, Ermelo District, as a way or method of helping troubled employees to identify causes of their financial problems and how the problems impact on their productivity. A quantitative approach was used to determine the impact that financial problems have on employees’ productivity. The researcher utilized the quantitative approach because she wanted to base her knowledge gained on objective measurements of the real world, not one someone’s opinion, beliefs or past experiences. Applied research was relevant to this study as the knowledge gained, can be utilized to resolve productivity problems impacted by financial problems. The study was an exploratory research as little is known about this subject. The researcher used probability sampling with a simple random sampling method to select the sample of 30 respondents from the population of 320 employees. The researcher compiled a questionnaire to collect information from the employee’s. The results derived from all the respondents indicated that, employees at the Department of Social Services Population and Development Ermelo District experience financial problems. The problem has a negative impact on their productivity and other problems are stated to be emanating from financial problems. It also revealed that there is no Employee Assistance Programme in the Department. The problems of employees are left unattended hence there is no method that is used to address them. It is then concluded that financial problems has a negative impact on the employee’s job productivity, hence there is a need for introduction and implementation of an Employee Assistance Programme. / Dissertation (MSD (EAP))--University of Pretoria, 2005. / Social Work and Criminology / unrestricted

The effective and efficient management of personal finances is critical for everyone, particularly in a world where uncertainties prevail. Owing to continuous change, new financial challenges frequently confront individuals that culminate ultimately in uncertainties concerning individuals’ financial position and future. Having low levels of debt, an active savings and retirement plan, as well as following an expenditure plan, will lead to financial wellness, which demonstrates an active state of financial wealth. A comprehensive financial plan makes individuals attentive when dealing with financial issues, and acts as a guide when making financial decisions. Owing to insufficient financial literacy and skills, personal financial management is challenging and often results in erroneous financial decisions. Financial knowledge forms the basis for financial skills and competence, which are influenced by personal attitudes in both spending and saving. Therefore, in order to plan effectively, and control and manage financial risks and opportunities in the future, financial skills and abilities are essential. Adequate financial knowledge and skills lead to effective personal financial management and sound financial decisions in the short-term as well as in the long-term. Planning for financial independence should start as early as possible during the financial life cycle, usually at 18 years of age. Students are a rewarding market for financial institutions such as banks, insurance companies, pension funds and brokerage companies, potentially leading the way forward to establish brand-loyalty throughout adulthood. However, the lack of financial management and planning experience, as well as financial literacy and financial skills, make students particularly susceptible to the aggressive marketing tactics of financial institutions, which may be harmful to students’ financial freedom. As such, financial institutions and professionals have to gauge effective ways to convey financial knowledge and product information to a target market to deliver improved financial service as well as understand the relevant consumer behavioural aspects of a target market when developing marketing strategies. Published literature on the South African Generation Y consumer behaviour is limited and none that is focused specifically on attitudes towards personal financial planning, financial literacy and perceived personal financial management skills of the significantly sized black Generation Y cohort. This cohort is defined as individuals born between 1986 and 2005. In South Africa, Generation Y individuals accounted for 38 present of the South African population, with the black Generation Y individuals representing 83 present of this generational cohort. Additionally, the black Generation Y cohort of South Africa account for approximately 32 present of the total population, resulting in a highly salient market segment. Of particular interest to marketers and professionals, including financial institutions and those involved in financial management, especially financial planning, are those individuals attaining tertiary qualifications, and as such they are likely to enjoy higher earnings and a higher social standing, which together is likely to make them opinion leaders and trendsetters amongst their peers. The primary objective of this study was to investigate black Generation Y students’ knowledge of and attitudes towards personal financial management within the South African context. The target population, relevant to this study, was defined as full-time undergraduate black Generation Y students, aged between 18 and 24 years, enrolled at South African registered public higher education institutions (HEIs). From the sampling frame, comprising 23 registered South African public HEIs, one traditional university and one university of technology located in the Gauteng province, were selected using a judgement sampling method. A convenience sample of 400 full-time black Generation Y students, who were enrolled at these two South African HEIs during 2013, was drawn for this study. To conduct this study, a structured format was applied where lecturers of the applicable classes were contacted and permission was requested to carry out the survey. Thereafter, during the scheduled class times of the full-time undergraduate students, hand delivered self-administered questionnaires were distributed for completion, which were collected thereafter. The students’ attitudes towards personal financial planning were measured on a six-point Likert scale, whereby participants were requested to indicate the extent of their agreement/disagreement with items pertaining to personal financial planning. The students’ financial literacy was measured, using multiple-choice questions, whereby the students were asked to choose one of the four alternatives provided. The students’ perceived personal financial management skills were measured on a six-point Likert scale, whereby the participants were requested to indicate the extent of their agreement/disagreement with items pertaining to personal financial management skills. Additionally, certain demographical data were requested from the participants. The findings of this study indicate that South African black Generation Y students exhibit a positive attitude towards personal financial planning, have low levels of financial literacy and perceive themselves as being equipped with having the necessary personal financial management skills. More specifically, students’ attitudes towards estate planning were ranked the highest, whereas attitudes towards the financial planning process were raked the lowest. In terms of financial literacy, students scored the highest in general financial knowledge and the lowest in spending related financial literacy questions. Students’ perceptions towards decision-making skills were rated the highest, whereas stress management skills were rated the lowest. Insights gained from this study will help academics, government, financial institutions and other economic role players understand current black Generation Y consumers’ attitudes towards personal financial planning, their level of financial literacy and their perceived personal financial management skills. / MCom (Business Management), North-West University, Vaal Triangle Campus, 2014

The effective and efficient management of personal finances is critical for everyone, particularly in a world where uncertainties prevail. Owing to continuous change, new financial challenges frequently confront individuals that culminate ultimately in uncertainties concerning individuals’ financial position and future. Having low levels of debt, an active savings and retirement plan, as well as following an expenditure plan, will lead to financial wellness, which demonstrates an active state of financial wealth. A comprehensive financial plan makes individuals attentive when dealing with financial issues, and acts as a guide when making financial decisions. Owing to insufficient financial literacy and skills, personal financial management is challenging and often results in erroneous financial decisions. Financial knowledge forms the basis for financial skills and competence, which are influenced by personal attitudes in both spending and saving. Therefore, in order to plan effectively, and control and manage financial risks and opportunities in the future, financial skills and abilities are essential. Adequate financial knowledge and skills lead to effective personal financial management and sound financial decisions in the short-term as well as in the long-term. Planning for financial independence should start as early as possible during the financial life cycle, usually at 18 years of age. Students are a rewarding market for financial institutions such as banks, insurance companies, pension funds and brokerage companies, potentially leading the way forward to establish brand-loyalty throughout adulthood. However, the lack of financial management and planning experience, as well as financial literacy and financial skills, make students particularly susceptible to the aggressive marketing tactics of financial institutions, which may be harmful to students’ financial freedom. As such, financial institutions and professionals have to gauge effective ways to convey financial knowledge and product information to a target market to deliver improved financial service as well as understand the relevant consumer behavioural aspects of a target market when developing marketing strategies. Published literature on the South African Generation Y consumer behaviour is limited and none that is focused specifically on attitudes towards personal financial planning, financial literacy and perceived personal financial management skills of the significantly sized black Generation Y cohort. This cohort is defined as individuals born between 1986 and 2005. In South Africa, Generation Y individuals accounted for 38 present of the South African population, with the black Generation Y individuals representing 83 present of this generational cohort. Additionally, the black Generation Y cohort of South Africa account for approximately 32 present of the total population, resulting in a highly salient market segment. Of particular interest to marketers and professionals, including financial institutions and those involved in financial management, especially financial planning, are those individuals attaining tertiary qualifications, and as such they are likely to enjoy higher earnings and a higher social standing, which together is likely to make them opinion leaders and trendsetters amongst their peers. The primary objective of this study was to investigate black Generation Y students’ knowledge of and attitudes towards personal financial management within the South African context. The target population, relevant to this study, was defined as full-time undergraduate black Generation Y students, aged between 18 and 24 years, enrolled at South African registered public higher education institutions (HEIs). From the sampling frame, comprising 23 registered South African public HEIs, one traditional university and one university of technology located in the Gauteng province, were selected using a judgement sampling method. A convenience sample of 400 full-time black Generation Y students, who were enrolled at these two South African HEIs during 2013, was drawn for this study. To conduct this study, a structured format was applied where lecturers of the applicable classes were contacted and permission was requested to carry out the survey. Thereafter, during the scheduled class times of the full-time undergraduate students, hand delivered self-administered questionnaires were distributed for completion, which were collected thereafter. The students’ attitudes towards personal financial planning were measured on a six-point Likert scale, whereby participants were requested to indicate the extent of their agreement/disagreement with items pertaining to personal financial planning. The students’ financial literacy was measured, using multiple-choice questions, whereby the students were asked to choose one of the four alternatives provided. The students’ perceived personal financial management skills were measured on a six-point Likert scale, whereby the participants were requested to indicate the extent of their agreement/disagreement with items pertaining to personal financial management skills. Additionally, certain demographical data were requested from the participants. The findings of this study indicate that South African black Generation Y students exhibit a positive attitude towards personal financial planning, have low levels of financial literacy and perceive themselves as being equipped with having the necessary personal financial management skills. More specifically, students’ attitudes towards estate planning were ranked the highest, whereas attitudes towards the financial planning process were raked the lowest. In terms of financial literacy, students scored the highest in general financial knowledge and the lowest in spending related financial literacy questions. Students’ perceptions towards decision-making skills were rated the highest, whereas stress management skills were rated the lowest. Insights gained from this study will help academics, government, financial institutions and other economic role players understand current black Generation Y consumers’ attitudes towards personal financial planning, their level of financial literacy and their perceived personal financial management skills. / MCom (Business Management), North-West University, Vaal Triangle Campus, 2014

This study seeks to show that a higher usage of debt instruments by consumers with limited available funds leads to the usage of savings tools to finance debt costs, which subsequently results in lower levels of savings. This was espoused by the literature on PFM and also proven by the test results from the research hypotheses that were computed by means of a logistic regression. The test results showed that there is a statistically significant relationship between the usage of debt instruments and the usage of savings tools. An emphasis is placed on the importance of savings as an integral component of the PFM concept: it is namely seen to be indispensable to good financial planning to ensure current and future consumer financial security. Therefore, this study concludes by highlighting the importance of consumers’ financial- management skills in minimising debt costs to increase levels of savings by controlling higher consumption expenditure through debt. / Business Management / M. Com. (Business management)

Until recently, personal financial management has become increasingly important for consumers as in the past. Literature indicates that consumers in rural and low-income areas are the most financially vulnerable and depends mostly on unsecured loans to finance their daily expenses. The primary objective of this study was to evaluate the level of financial literacy among adults in Vhembe District Municipality in Limpopo, South Africa. The results indicate that the level of financial literacy among adults in Vhembe District Municipality is low (38.73%). The low levels of financial literacy have serious consequences for an adult’s personal financial management skills and lead to their inability to make correct financial decisions. The study concludes by suggesting interventions that could help adults to improve their level of financial literacy, manage and sustain their financial well-being. / Business Management / M. Com. (Business Management)

This study seeks to show that a higher usage of debt instruments by consumers with limited available funds leads to the usage of savings tools to finance debt costs, which subsequently results in lower levels of savings. This was espoused by the literature on PFM and also proven by the test results from the research hypotheses that were computed by means of a logistic regression. The test results showed that there is a statistically significant relationship between the usage of debt instruments and the usage of savings tools. An emphasis is placed on the importance of savings as an integral component of the PFM concept: it is namely seen to be indispensable to good financial planning to ensure current and future consumer financial security. Therefore, this study concludes by highlighting the importance of consumers’ financial- management skills in minimising debt costs to increase levels of savings by controlling higher consumption expenditure through debt. / Business Management / M. Com. (Business management)

Gauteng, one of the nine provinces of South Africa, has a high number of households as compared to the other provinces. Geographically the province has the smallest land size, however it forms the central part of the South African economy. From the total value of credit granted in all provinces, Gauteng has the highest. The province has a high number of registered debt counsellors and an increasing number of consumers who apply for debt counselling because of over-indebtedness. The high number of the registered debt counsellors and consumers seeking debt counselling service gave rise to the purpose of the study. The purpose of the study was to assess the role of debt counselling services provided by debt counsellors to consumers on the one hand, and to also assess whether debt counselling has had a positive effect on the personal financial well-being of consumers who participated in the debt counselling process on the other hand. Furthermore, the study aimed at developing a framework that will empower consumers to be self-sufficient with their finances. From the purpose of the study, two research questions were proposed: (1) How does the debt counselling service provided by debt counsellors assist consumers to manage their finances effectively? (2) Which role does the debt counselling service provided by debt counsellors play in terms of the personal financial well-being of consumers? In an attempt to answer research questions, the theoretical framework of both personal finance and debt counselling were studied. The importance of personal finance, personal financial planning, the evolution of debt counselling, the effectiveness and the ineffectiveness of debt counselling services were identified. A two-phased sequential design (qualitative and quantitative) was used. Fifteen debt counsellors were selected (for the first phase of the study) by making use of a purposeful sampling. These debt counsellors were interviewed and further requested to identify and send questionnaires to consumers whom they have rendered debt counselling service between the years 2007 and 2013. In the second phase of the study, 300 over-indebted consumers were surveyed through a snowball non-probability sampling technique and a response rate of 61% was realised. Data was analysed using ATLAS.ti and the Statistical Package for Social Science (SPSS) for the first and the second data collected respectively. Furthermore, the exploratory factor analysis was used to analyse the data, and the factorability of the data was assessed by means of two statistical measures, namely Bartlett’s test of sphericity and Kaizer Meyer-Olkin. It was observed that most debt counsellors lack financial management knowledge and do not have mechanisms to verify their clients’ financial well-being after debt counselling service had been completed. In addition, there was no evidence that consumers who received debt counselling improved in their financial well-being and that consumers also lacked personal financial management skills. The study concluded that, although debt counselling is essential, it does not necessarily assist consumers to effectively manage their finances. The study purports to suggest the following: Debt counsellors should be subjected to formal financial management training prior to their registration, debt counsellors should provide personal financial management education to their clients, and assess the financial management conduct of their clients once debt counselling process is complete, and debt counsellors should establish debt counsellors’ forums. The South African government (in conjunction with the Department of Education and Training) should introduce and implement personal financial management education in both primary and high schools’ curricula. Personal financial management should continue to be offered at adult learning centres as well as other institutions of higher learning. Employers should appoint employee wellness officers who will provide personal finance training to employees. Credit providers should take the responsibility of educating their clients on how to manage their accounts and the importance of paying debts on time. The South African media should also be used by the government and the NCR to educate and inform consumers about finance-related matters. Finally consumers should seek guidance and advice before making financial commitments. The study concluded by suggesting a framework that should help consumers to manage and sustain their financial well-being. / Business Management / DCOM (Business Management)

Personal financial management is an integrated part of modern man's everyday life. It does not only involve spending his monthly income. It comprises his outlook on life, the way he handles all his financial affairs as well as the way he goes about minimizing his financial risks. The financial plan that the individual has to provide for his retirement, to take care of his dependants as well as the way that the assets he acquired during this lifetime, must be distributed after his death, also forms part of this personal financial management. The main purpose of the study is to determine the levels of personal financial management practiced by employees of NWK Limited, as well as to determine the need for guidance in this regard. The following aspects of personal financial management are researched in chapter 2. These aspects were used to determine to what extent personal financial management was performed by having the study population anonymously complete a customized questionnaire. The following aspects were applied: * Attitude towards money. * Management style with regards to money. * Time value of money. * The financial plan. * Investments. The results of the study confirmed that there is a definite need for guidance with regard to personal financial management, especially under the younger employees as well as the personnel in the lower job levels of the company. Through the rendering of a tailored guidance programme, productivity as well as the quality of life, especially after retirement, could be improved significantly. / Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2011.

Personal financial management is an integrated part of modern man's everyday life. It does not only involve spending his monthly income. It comprises his outlook on life, the way he handles all his financial affairs as well as the way he goes about minimizing his financial risks. The financial plan that the individual has to provide for his retirement, to take care of his dependants as well as the way that the assets he acquired during this lifetime, must be distributed after his death, also forms part of this personal financial management. The main purpose of the study is to determine the levels of personal financial management practiced by employees of NWK Limited, as well as to determine the need for guidance in this regard. The following aspects of personal financial management are researched in chapter 2. These aspects were used to determine to what extent personal financial management was performed by having the study population anonymously complete a customized questionnaire. The following aspects were applied: * Attitude towards money. * Management style with regards to money. * Time value of money. * The financial plan. * Investments. The results of the study confirmed that there is a definite need for guidance with regard to personal financial management, especially under the younger employees as well as the personnel in the lower job levels of the company. Through the rendering of a tailored guidance programme, productivity as well as the quality of life, especially after retirement, could be improved significantly. / Thesis (M.B.A.)--North-West University, Potchefstroom Campus, 2011.

Gauteng, one of the nine provinces of South Africa, has a high number of households as compared to the other provinces. Geographically the province has the smallest land size, however it forms the central part of the South African economy. From the total value of credit granted in all provinces, Gauteng has the highest. The province has a high number of registered debt counsellors and an increasing number of consumers who apply for debt counselling because of over-indebtedness. The high number of the registered debt counsellors and consumers seeking debt counselling service gave rise to the purpose of the study. The purpose of the study was to assess the role of debt counselling services provided by debt counsellors to consumers on the one hand, and to also assess whether debt counselling has had a positive effect on the personal financial well-being of consumers who participated in the debt counselling process on the other hand. Furthermore, the study aimed at developing a framework that will empower consumers to be self-sufficient with their finances. From the purpose of the study, two research questions were proposed: (1) How does the debt counselling service provided by debt counsellors assist consumers to manage their finances effectively? (2) Which role does the debt counselling service provided by debt counsellors play in terms of the personal financial well-being of consumers? In an attempt to answer research questions, the theoretical framework of both personal finance and debt counselling were studied. The importance of personal finance, personal financial planning, the evolution of debt counselling, the effectiveness and the ineffectiveness of debt counselling services were identified. A two-phased sequential design (qualitative and quantitative) was used. Fifteen debt counsellors were selected (for the first phase of the study) by making use of a purposeful sampling. These debt counsellors were interviewed and further requested to identify and send questionnaires to consumers whom they have rendered debt counselling service between the years 2007 and 2013. In the second phase of the study, 300 over-indebted consumers were surveyed through a snowball non-probability sampling technique and a response rate of 61% was realised. Data was analysed using ATLAS.ti and the Statistical Package for Social Science (SPSS) for the first and the second data collected respectively. Furthermore, the exploratory factor analysis was used to analyse the data, and the factorability of the data was assessed by means of two statistical measures, namely Bartlett’s test of sphericity and Kaizer Meyer-Olkin. It was observed that most debt counsellors lack financial management knowledge and do not have mechanisms to verify their clients’ financial well-being after debt counselling service had been completed. In addition, there was no evidence that consumers who received debt counselling improved in their financial well-being and that consumers also lacked personal financial management skills. The study concluded that, although debt counselling is essential, it does not necessarily assist consumers to effectively manage their finances. The study purports to suggest the following: Debt counsellors should be subjected to formal financial management training prior to their registration, debt counsellors should provide personal financial management education to their clients, and assess the financial management conduct of their clients once debt counselling process is complete, and debt counsellors should establish debt counsellors’ forums. The South African government (in conjunction with the Department of Education and Training) should introduce and implement personal financial management education in both primary and high schools’ curricula. Personal financial management should continue to be offered at adult learning centres as well as other institutions of higher learning. Employers should appoint employee wellness officers who will provide personal finance training to employees. Credit providers should take the responsibility of educating their clients on how to manage their accounts and the importance of paying debts on time. The South African media should also be used by the government and the NCR to educate and inform consumers about finance-related matters. Finally consumers should seek guidance and advice before making financial commitments. The study concluded by suggesting a framework that should help consumers to manage and sustain their financial well-being. / Business Management / DCOM (Business Management)