Today's idiom is:
to tighten your belt = to spend less
When we don't have much money, or perhaps we lose a job or earn less, we need to cut down on our spending. In such a case we say we must tighten our belts.
Example 1
A: It looks like our business isn't doing very well at the moment.
B: I know. We're going to have to tighten our belts.
Example 2
A: If we don't tighten our belts we're going to run out of money.
B: We'll hacve to stop eating out for a start.
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