Report: Most Americans Not Prepared For $1K Unexpected Expense

MINNEAPOLIS (WCCO) -- We've heard this one before, and it continues to appear to be true: many Americans are not financially prepared for an emergency.

A new survey by Bankrate shows that about a third of Americans had a major, unexpected expense in the last year.

However, only 39 percent of those surveyed were able to cover a $1,000 expense by using their savings.

Using a credit card was the second most popular answer at 19 percent.