Survey: Most Americans can't cover $1000 emergency

Most Americans cannot afford to pay for a major emergency if it happens to them.

A new report shows that only 39 percent of people could pay a $1000 dollar unplanned expense like damage from a leaky sink, or a broken down car.

More than one-third of households had a major unexpected expense last year. says the rule of thumb is people should have at least 3 to 6 months living expenses set aside.