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What does “tighten the purse strings” mean?

Meaning, example sentence and a quick practice question.

C1

To start spending more cautiously

“The whole department had to tighten the purse strings after the budget cut.”

Say it smoothly: “tigh-tnthe-purse-strings”

From the C1 lesson Money Talks (money and spending).

Quick check

What does “tighten the purse strings” mean?

Teaching this phrase?“tighten the purse strings” is part of a ready-to-teach lesson, with a reading, three exercises, speaking tasks and an answer key, in Everyday English Chunks C1 Pack 3 (Money, Food, Work and Travel).
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