Meaning of the word "on a shoestring" in English

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

on a shoestring

US /ɒn ə ˈʃuːstrɪŋ/
UK /ɒn ə ˈʃuːstrɪŋ/
"on a shoestring" picture

Idiom

with a very small amount of money; on a very tight budget

Example:
They managed to travel across Europe on a shoestring.
The film was made on a shoestring budget, but it won several awards.