(CNN) - If you were hit with a $1,000 emergency, would you be able to cover it?
The majority of Americans can't.
A new report from Bankrate.com found that only 39 percent would be able to pay a bill that size out of savings.
Among those who say they couldn't pay, 36 percent said they'd need to borrow the money or put it on a credit card.
The report also found that 34 percent of respondents actually did have a major unexpected expense in the past year. And most were even bigger than $1,000.
According to the survey, younger millennials, ages 18-27, were the most likely of all age groups to borrow from family or friends in an emergency situation while older millennials, ages 28-37, were those most likely to reduce spending on other things.
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