Belt-tightening

Belt-tightening refers to the act of reducing personal or organizational expenditures in response to financial constraints or economic downturns. It implies making sacrifices or adopting stricter budgetary measures to maintain financial stability or avoid unmanageable debt. This term is often used in economic contexts where consumers or companies scale back on spending.

Belt-tightening meaning with examples

• After the economic recession hit, families across the nation engaged in Belt-tightening measures, cutting back on non-essential expenses and reevaluating their budgets to manage their finances better during tough times.
• The company's fiscal report prompted a wave of Belt-tightening across departments, with managers urging employees to minimize spending on office supplies and travel to ensure the organization's economic stability in the coming quarters.
• Due to the unexpected rise in living costs, many households adopted Belt-tightening strategies by dining out less frequently, limiting entertainment expenses, and seeking more affordable alternatives for everyday purchases.
• In reaction to the government's announcement of potential tax increases, local businesses implemented Belt-tightening practices by reducing staff hours and postponing expansion plans, hoping to weather the financial storm ahead.