What is the meaning of the word "a day late and a dollar short"?

Definitions:

  1. action taken too late and too feeble to be of any use copy to clipboard noun
    • The student's effort was a day late and a dollar short. copy to clipboard
  2. Another way to say too little too late. copy to clipboard ADJECTIVE
    • This apology is a day late and a dollar short. You will have to do better if you want me back as a customer. copy to clipboard
  3. Missed an opportunity due to tardiness or lack of effort. copy to clipboard ADJECTIVE
    • The team is a day late and a dollar short, but it looks like they're starting to find a rhythm, and they may score in a moment. copy to clipboard

Synonyms: