Friday’s jobs report is expected to show that unemployment is holding steady at an eight-year low of 5 percent, but that doesn’t mean people aren’t on the verge of serious money problems.

About two-thirds of Americans have no emergency savings to cover expenses like an immediate car repair or medical bill, according to personal finance website Bankrate.com.

Its survey of 1,000 adults found they would need to cover unplanned bills by cutting spending, borrowing from family or friends or using credit cards to hold them over.

“The survey shows that a very significant minority of American households apparently don't have the resources to pay for an unexpected expense of around $1,000," says Stephen Brobeck, executive director of the Consumer Federation of America.

To boost their savings, Americans said they are most likely to cut spending on restaurants, cable TV, coffee or dough nut shops, cell phones and booze.

Personal savings rates as a percentage of disposable income are at 5.5 percent, according to the Bureau of Economic Analysis.

“Without emergency savings, you may not have money to cover needed home repairs,” Signe-Mary McKernan, senior fellow and economist at the Urban Institute, told MarketWatch. “Similarly, without emergency savings, people could raid their retirement account.”

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