How to Create Your Emergency Portfolio on the Black Star App

Introduction

Creating an emergency portfolio is essential for financial security. The Black Star App makes this process simple and straightforward. This guide will walk you through the steps to create an emergency portfolio using the Black Star App, ensuring you have readily accessible funds for unexpected expenses.

Step 1: Navigate to Create a New Portfolio

1. From the home screen, tap on the "Account" tab at the bottom of the screen to access your account overview.
2. In the "Account" section, select the menu icon (three dots) next to "Portfolios."
3. Tap on "Add Portfolio" from the dropdown menu. This will take you to the portfolio creation screen.

Step 3: Select the Purpose of Your Portfolio

You will be prompted to choose the purpose of your new portfolio. Options include Retirement, Buy a house/land, Education, Buy a car, Emergency, and Custom.

1. Select "Emergency" to indicate that this portfolio is intended for unexpected expenses.
2. Tap on "Start" to begin creating your emergency portfolio.

 

Step 4: Customize Your Emergency Portfolio

1. You will be guided through a series of prompts to customize your portfolio. Follow the on-screen instructions to set up your emergency portfolio. This includes specifying the amount you wish to allocate and any other preferences.
2. Once completed, review the details and confirm your selections.

Step 5: Funding Your Emergency Portfolio

1. After creating the portfolio, you need to add funds to it. Tap on "Add Cash" in the "Account" section.
2. Enter the amount you wish to deposit into your emergency portfolio and follow the instructions to complete the transaction.

Step 6: Monitor Your Portfolio

1. Navigate back to the "Account" section to view your portfolios. Your new emergency portfolio will be listed alongside your other portfolios.
2. Tap on your emergency portfolio to see detailed information, including the current balance and recent transactions.

Pro Tip: Utilize Fixed Income Alpha Plus Fund (FIAP)

Consider allocating your emergency portfolio to the Fixed Income Alpha Plus Fund (FIAP). This mutual fund prioritizes liquidity while maintaining steady long-term growth. Investing in a diversified portfolio of global and domestic fixed-income instruments, FIAP offers a balanced approach to safety and performance. By including FIAP in your emergency portfolio, you can benefit from its stability and liquidity. Check out this article on how to invest in mutual funds.