tighten their belts

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Jul 8, 2007
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Arabic
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Hello
What does this mean in the following sentence? Does it mean they don't spend money?
Can you give me another example.
Thanks

71% of Brits have tightened their belts since the credit crunch started
 

corum

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Feb 8, 2010
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Hungarian
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Hello
What does this mean in the following sentence? Does it mean they don't spend money?
Can you give me another example.
Thanks

71% of Brits have tightened their belts since the credit crunch started

They started to spend less.
 
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