Select the most appropriate meaning of the underlined phrase.

Though very rich, Alexander always saves for a rainy day.

The correct answer is: Saves money for later.

Key Points

• The phrase "saves for a rainy day" is an idiom. Idioms are expressions whose meanings cannot be inferred from the meanings of the words that make them up. This particular idiom means to save money for a time when it might be needed unexpectedly, such as during an emergency or in times of difficulty, which could be referred to metaphorically as a "rainy day."
• Therefore, in the context of the sentence "Though very rich, Alexander always saves for a rainy day," it indicates that despite his wealth, Alexander is cautious and saves money for future unforeseen expenses.

Thus, the first option, "Saves money for later," is the most appropriate as it directly relates to the meaning of the idiom.

 Additional Information

• "Lives like a miser" implies extreme frugality, which is not the same as saving for future needs.
• "Spends too much" is the opposite of the idiom's meaning.
• "Accumulates less wealth" does not align with the concept of saving; it suggests not gaining wealth, not saving it.