If you own a home, but can't seem to build up that rainy-day savings account -- at least three months worth of take-home pay -- apply for a home equity line of credit today. You can use the money in an emergency.

The equity in your home is the difference between what your home is worth and how much you owe on it. For example, if your home is worth $175,000 and you still owe $100,000, you have $75,000 in equity. Most financial institutions will allow you to borrow 80% of your equity or, in this case, $60,000.

But you should only sign-up for the minimum -- probably $5,000 or $10,000.

And don't wait until someone is sick, injured or laid off to get your line of credit going -- it may be too late.

A line of credit, commonly called a HELOC, costs nothing or little to open and it doesn't cost you anything if you don't use the money. But if you need some cash, you can access it using a check or ATM card.

To get more information on HELOCs or explore other options for dealing with a financial crisis, read 4 ways to prepare for a financial emergency so if the unexpected happens, you'll be ready.