belt-tightening
US /ˈbeltˌtaɪt.nɪŋ/
UK /ˈbeltˌtaɪt.nɪŋ/

1.
the practice of spending less money because there is less money available
:
•
The company announced a period of belt-tightening due to the economic downturn.
•
Families are facing severe belt-tightening measures.