tighten one’s belt

tighten (one's) belt

To reduce, restrict, or limit one's budget; to live more modestly or make financial sacrifices. A: "I don't know what we'll do now that you lost your job." B: "Don't worry, we just need to tighten our belts for a while. Living on my own during college taught me how to tighten my belt and get by on not very much.
See also: belt, tighten

tighten one’s belt

tv. to prepare for economies. (see also take one’s belt in (a notch).) The entire country will have to tighten its belt.
See also: belt, tighten