Belt-tightening Definition

bĕlt tītn-ĭng
noun
Increased thrift and frugality; a reduction in spending.
American Heritage
A reduction of expenditures; economizing.
Webster's New World

(informal) A reduction in expenditure as a result of financial restrictions.

Wiktionary
adjective
Of or involving the reduction of expenditures.
Belt-tightening measures.
Webster's New World

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