Preparing for a rainy day is an important part of financial planning. Saving, hoarding and saving up are all strategies that can help individuals and families prepare for a rainy day. Saving involves setting aside money on a regular basis to build up a reserve fund. Hoarding is the practice of collecting and storing items for future use. Saving up is the process of accumulating money over time in order to purchase something in the future. All three of these strategies can help individuals and families prepare for a rainy day.