According to a recent survey by H&R Block, more than half of Canadians (56%) worry that they'll have to go into debt or use a credit card if an unexpected expense comes up rather than rely on their savings; for example, to replace an appliance, home repair costs, dental costs, etc.

John Klotz, certified financial planner with Investment Planning Counsel joins Vassy Kapelos for Money Talk. This week's focus: Do you need an emergency fund, and how much should be in it?