We need to tighten our belts.

Meaning

We need to reduce our spending.

Examples

• John: 'We're facing a potential recession.'<br>
• Alice: '<b>We need to tighten our belts</b> and cut down on unnecessary expenses.'
• John: 'It's time for us to <b>tighten our belts</b> for a while.'
• Alice: 'The market is down and my investments are losing value.'<br>