A quarter of Americans are not ready to pay for an emergency like a visit to a hospital or replacing flat tires, according to a study by Bankrate.com.
Thirty-year-old Evan Lang is one of those people. He has got 4 kids and is making his way through nursing school.
"We do have somewhat of a pennies savings but it's no more than $20 or $30 at times," Land said. "And that's really dependent upon whether I need it for gas at the end of the two weeks until I get paid again."
The study found 31% of Americans are saving money, and since the website began its surveys in 2011, more people jumped on savings bandwagon.
However, Bankrate.com found "the tendency to have no emergency savings is highest among those ages 53-62, who seem to be all-or-nothing."
According to the study, younger millennials seem to be, "well on their way, they have the highest propensity to have enough money to cover three to five months' expenses."
Lang says often times he reaches for the plastic.
"Yeah a credit card helps, credit cards can get you in trouble too. It's more money that you have to pay back that you don't have already," he said.
Terry O'Grady, a financial planner says, although many think a budget will restrict them... but you can't do anything without money which means you have to keep track.
"Every time you buy something and the guy at Publix asks, hey do you want your receipt? Most people will be like oh no just throw it away. Keep it," O'Grady said. "Then when you get home track it!"
O'Grady says for a rule of thumb, your emergency fund should have enough money to cover you for three to six months
He says the best way to begin is to create a starter fund with $1,000. Then, set up your bank account to automatically put aside money from your paychecks into a savings fund which will get that account growing.
Most importantly, don't touch it.
O'Grady says if you have tried all of the things he suggested and you still can't save, it may be time to consider a new job that pays more. He added you never want to stay in a situation that isn't cutting it for you and your family.