stretch one’s finances

[keannu]

What does stretch one’s finances mean? Increase your wealth?
43)How much space do you need to be happy? Part of the American story is that bigger is better, and with cheap credit and tax breaks for home buyers, it’s tempting to stretch one’s finances to build or buy a larger house. My grandpa Otto chose a different path. (a) He didn’t want to find himself working longer and longer hours just to pay for more space and the stuff to fill it. He grew up in a farming community and within a very large family, so living simply was integral to his life philosophy.

 

[emsr2d2]

It means either to make your money go further or to find just a little more money than you were planning to.

Let's say I am looking to buy a new house. Perhaps I have decided to spend £100,000. However, when I start looking at houses to buy, I find a really nice one for £103,000. Even though that is £3,000 more than I had originally budgeted for, if I really like the house, I will probably "stretch my finances" and find the extra £3,000 to buy the house I like.

 

[MikeNewYork]

What does stretch one’s finances mean? Increase your wealth?
43)How much space do you need to be happy? Part of the American story is that bigger is better, and with cheap credit and tax breaks for home buyers, it’s tempting to stretch one’s finances to build or buy a larger house. My grandpa Otto chose a different path. (a) He didn’t want to find himself working longer and longer hours just to pay for more space and the stuff to fill it. He grew up in a farming community and within a very large family, so living simply was integral to his life philosophy.

To me, it sounds as if the writer is being critical of the trend to buy houses that one cannot really afford. If anything bad happens, such as falling property values, the buyers may end up facing bankruptcy.