We need to tighten our belts.

Meaning

We need to reduce spending.

Examples

• John: 'Profits are down this quarter.'<br>
• Alice: 'I agree, we need to <b>tighten our belts</b> and cut unnecessary expenses.'
• John: 'Yes, we'll have to <b>tighten our belts</b> for a while.'
• Alice: 'The company is facing financial difficulties.'<br>