Regarding the four phrases] whose first letters form an acronym for the name Elul, as cited in the writings of the AriZal and in texts of Mussar :
In general, this month is a month of stocktaking and preparation for Teshuvah... This is intimated by the verse: “ Ani L’Dodi V’Dodi Li — I am my Beloved’s, and my Beloved is mine.” [Shlomo Hamelech is alluding to our relationship with Hashem.]
This is expressed specifically through the daily service of giving a coin to charity and then praying, then “proceeding from the synagogue to the house of study.” [Gemilas chasodim – Tefilah\Avodah – Torah.] These three daily services are alluded to, by the Three remaining Acronyms of “ELUL.” Acronyms of Elul To be continued
— Based on Rebbe’s letter written 27 Av 5709 - 1949
