Meaning of the word "fall on hard times" in English

What does "fall on hard times" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

fall on hard times

US /fɔːl ɑːn hɑːrd taɪmz/
UK /fɔːl ɒn hɑːd taɪmz/
"fall on hard times" picture

Idiom

to experience a period of financial difficulty or bad luck

Example:
The family fell on hard times after the factory closed down.
He fell on hard times and had to sell his house.