Wednesday, January 17, 2018

Why You Should Travel Solo at Least Once

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Booking a plane ticket for one might not seem like an obvious way to prepare for your next vacation — especially if you usually travel with a partner, family members or friends. But here’s what many solo traveling enthusiasts will tell you: It’s a first step toward an incredible, life-changing journey.

Traveling solo gives you the freedom to explore new places at your own pace and chase crazy-ambitious travel goals. Plus, you’ll get to know yourself — and unfamiliar parts of the world — on a whole new level. Here’s why you should try it at least once, from four prolific solo travelers.

You’ll be free to explore on short notice

When you’re in a group, planning a day out requires intense coordination and, often, a little persuasion. When you’re on your own, it’s a different story.

“When I travel by myself, I tend to have some key, big items I definitely want to do, and I keep everything else flexible, so if something comes up, I always have time to do it,” says Pauline Lim, a data analyst at Airbnb, based in San Francisco. So far, she’s visited 40 countries; after her next solo trip on the Trans-Siberian Railway, she’ll have visited 46.

In 2016, Lim once decided to take a European road trip on a whim during a nine-day solo visit to Paris after exploring the city. “By day four I was like, ‘Man, I’ve been to all the museums, I’ve stayed out every night, I’ve gone to all the bars I wanted to go to, what the hell should I do next?’” After getting some travel recommendations from her cousin, who happened to be in Paris at the same time, she planned a spur-of-the-moment expedition.

(Pauline Lim, left, visits a friend while on a European road trip.)

“At 4 a.m. that morning, I booked a car for the next four days,” Lim says. She ended up driving to Brussels and Amsterdam, then back to Paris, visiting two friends along the way.

» MORE: Beat your travel budget: Find cheap activities in any city

It’s the ultimate confidence booster

Baron visiting Arusha, Tanzania in 2017.


Derek Earl Baron says he was “a very shy person, pretty introverted” when he started traveling full time about 18 years ago. On the travel blog he founded, Wandering Earl, he wrote about 

Derek Earl Baron says he was “a very shy person, pretty introverted” when he started traveling full time about 18 years ago. On the travel blog he founded, Wandering Earl, he wrote about traveling solo

“I quickly realized that traveling on my own forced me into situations I wasn’t comfortable with, but I had no choice but to start talking to people and solve whatever issues I had on my own,” he says.

Soon after starting out, he went to India for the first time, to a remote area.

“I was starting to get pretty nervous, like, ‘Ah, this isn’t so fun, I’m on my own.’ I wasn’t talking to many people because it was very different and a little bit of a culture shock,” Baron says.

Then, he saw another tourist on a train and started a conversation. After getting to know each other, the two ended up traveling together for five months, exploring much of the country, including areas few travelers went. The experience made Baron realize just how easy it was to meet new people while traveling solo.

“When we stopped traveling together, that’s when I realized, ‘Wow, I have the confidence to do anything, even if it’s on my own.’”

Baron has now visited 102 countries; he’s now staying in Canggu, on the Indonesian island of Bali. He makes a living through his travel blog.

You’ll have more chances to meet new people

Like Baron, Brittany Kulick quickly discovered that traveling solo gave her plenty of opportunities to get to know the folks around her.

“There’s something to be said for just really going after what you want, and doing something that’s exactly tailored to what you’re wanting to do at that moment,” says Kulick, founder of the travel and food blog The Sweet Wanderlust. “The greatest thing about solo travel is the people you meet, who are looking exactly for that same thing at that same time.”

Kulick has visited 54 countries and makes a living by doing freelance marketing, social media management and copywriting, as well as picking up temporary work. In 2015, she left Dallas to travel solo full-time.

(Brittany Kulick eats a red velvet-crusted chicken shake in Perth, Australia.)

Early on in her travels, Kulick recounts going on a free walking tour in Seville, Spain. “I met this girl from Melbourne, and we ended up doing the walking tour then going off to this fun medieval festival,” says Kulick, who wrote about the trip on her blog. “And she goes, ‘If you ever make it to Melbourne, you’re welcome to stay with me and my partner.'” About a year later, Kulick took her up on that offer. She’s currently house-sitting for her fellow traveler, now one of her best friends in Melbourne, as she travels in Australia.

If you’re traveling alone, Kulick says going to free walking tours — often led by guides who work for tips — are a great way to meet like-minded solo travelers in new cities. For those who aren’t sure where to travel, she also recommends making Pinterest boards to gather ideas. 

It could change the course of your life

When Jeremy Scott Foster first traveled solo from Boston to Sydney, Australia, in 2010, he initially planned to stay for a few months. At the time, he had recently graduated from college and completed a brief stint working in IT. He ended up staying for three and a half years instead, traveling in Australia and Asia throughout his time abroad.

(Jeremy Scott Foster stands in front of the Golden Gate Bridge in San Francisco.)

“Traveling on my own meant that I could just stay — and I did,” says Foster, founder of the blog TravelFreak, who at the time worked as a bartender to pay for his trips. He wrote about his experience traveling solo on his blog. “The choice to travel solo brought me around the world and gave me the platform to start my own business.” Now, he’s based in Washington, D.C., and works full time as a travel blogger and photographer. He goes on multiple trips each month.

While exploring an unfamiliar city alone might not spur you to travel nomadically, like Foster, it might inspire you to learn a new language, take up a new hobby or even change careers.

“The number one thing when you travel solo is, you learn who you are when no one else is watching,” Foster says. “Solo travel is nothing if not a lesson in getting to know yourself.”

Stay safe with these tips

Navigating a new city alone for the first time can be a little scary, no matter how tourist-friendly and safe your destination actually is. Here are some tips from solo travelers Lim, Baron, Kulick and Foster for staying safe and maintaining peace of mind while traveling solo:

  • Make sure you have a way to contact people. “I’ve learned that whenever I’m traveling, I must always have cell service,” Lim says. She also makes sure she has data coverage, so she has a way to contact people if she needs to.
  • Back up your important documents. Lim says she backs up her important documents on Dropbox so she always has access to them. She also carries extra cards and cash while traveling.
  • Keep your valuables secure. “When I stay in hostels, I make sure there are lockers. I always travel with a lock on my backpack,” Kulick says. She also notes that she reads several reviews for hostels and Airbnbs before actually booking her stays.
  • Tell people where you’re going. “If you’re traveling alone, when you’re going out, especially at night or something, let people know,” Baron says, noting that you can talk to the person at the front desk of a hostel or a fellow traveler. “You can always just say, I’m going to check in with you at this point.”
  • Pay attention to your surroundings. Foster stresses that solo travel isn’t as dangerous as the media makes it out to be. Still, he says, it’s important to use common sense. “If something feels unsafe, trust your gut,” he says.

Tuesday, January 2, 2018

OneMain Financial Personal Loans: 2019 Review

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

4.0

NerdWallet rating

Good for: Bad credit, secured loan

OneMain Financial provides personal loans to people with bad credit who may have trouble qualifying for a traditional bank loan.

OneMain may be a good fit if:

  • You have bad or below-average credit. OneMain has no minimum credit score requirement, but its borrowers’ average scores are between 600 and 650.
  • You prefer a traditional bank experience. OneMain usually requires a visit to one of its more than 1,600 branches.
  • You need money quickly. Loans typically fund the same day.

OneMain Financial loan rates and terms

Loan amounts$1,500 - $20,000 Typical APR18.00% - 35.99% FeesOrigination fee: Varies by state

Prepayment fee: None Time to fundingSame day Repayments2 to 5 years Soft credit check?Yes How to qualify
  • Minimum credit score: None; average is 600 to 650.
  • Minimum credit history: Not provided.
  • Minimum annual income: None.
  • Debt-to-income ratio: Not provided.
Best forBorrowers with bad credit, fast cash Click "Check rates" to get started with OneMain.

Check rates at OneMain

» MORE: Compare bad credit loans

OneMain Financial personal loan review

To review OneMain Financial, NerdWallet collected more than 30 data points from the lender, interviewed company executives and compared the lender with others that seek the same customer or offer a similar personal loan product. Loan terms and fees may vary by state.

OneMain’s personal loans are commonly used for debt consolidation, wedding and medical expenses, home improvement projects and auto financing. The lender considers traditional factors such as credit history and debt-to-income ratio when evaluating borrowers.

Best of 2019: NerdWallet recognized OneMain Financial among our list of Best Personal Loans of 2019 in the category of bad credit.

High rates: OneMain’s starting annual percentage rate of 18% is higher than what is charged by some online lenders that cater to people with poor credit, such as Peerform and Avant. OneMain’s rates top out at 35.99%.

Loan example: For a borrower with bad credit, a $10,000 unsecured personal loan with a repayment term of two years at 27.2% APR would carry monthly payments of $545, according to NerdWallet’s personal loan calculator.

Fast cash: OneMain provides fast loans; you can complete an application and receive a decision in less than 10 minutes. Once you’ve been approved, you can receive funds as soon as the same day by check, or one to two business days via bank payment.

Funding time also varies based on what time you submit the application, the number of documents required and how long it takes you to submit the documents to get your application approved, according to OneMain.

Secured loan option: You can also apply for a loan that is secured with a car title or other collateral, which may help you qualify for a lower APR, larger loan amount or longer loan term compared with an unsecured loan.

As with any secured loan, if you can’t make your loan payments, you could end up losing your vehicle or other collateral.

OneMain and other lenders typically offer optional credit insurance with secured loans. This insurance adds to your costs and may not be needed, so learn about the pros and cons before you buy it.

Free credit score: Approved OneMain borrowers have free access to their credit scores, a feature that few other online lenders offer.

How OneMain compares





avant_box_logo-384x129

APR

18.00% - 35.99%




Min credit score

None




Best for

Bad credit, secured loans



APR

7.99% - 18.0%




Min credit score

None




Best for

Debt consolidation



APR

9.95% - 35.99%




Min credit score

580




Best for

Bad credit



Click “Check Rate” to pre-qualify and receive a personalized rate from multiple lenders on NerdWallet.

CHECK RATE

For borrowers with bad credit, credit unions may provide personal loans at more favorable rates and terms. Federal credit unions such as Navy Federal cap APRs at 18% and consider more than just your credit score in applications.

Avant is an online lender offering a lower starting APR and similar time to funding compared to OneMain. It requires a minimum credit score of 580 and annual income of at least $20,000 to qualify.

» MORE: Compare OneMain and Mariner for personal loans

How to apply for a OneMain Financial loan

You can apply by submitting your personal, employment and financial information at OneMain’s website. You’ll get an email with a decision on your application, and a representative will contact you to schedule an appointment at a branch office to discuss your options and verify your information. If there is no branch nearby, you may be able do this step remotely.

NerdWallet recommends comparing loans to find the best rate for you. Click the button below to pre-qualify and receive a personalized rate from multiple lenders on NerdWallet.

 

Before you shop for a personal loan:

NerdWallet’s ratings for personal loans award points to lenders that offer consumer-friendly features, including: soft credit checks, no fees, transparency of loan rates and terms, flexible payment options, accessible customer service, reporting of payments to credit bureaus, and financial education. We also consider the number of complaints filed with agencies like the Consumer Financial Protection Bureau. This methodology applies only to lenders that cap interest rates at 36%, the maximum rate financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation of any sort for our reviews. Read our editorial guidelines.