Tighten The Purse Strings Meaning

Example : 1894, New Zealand Parliament, Parliamentary debates, page 710:  ...would have the opposite effect entirely, and would tighten the purse-strings of capitalists and the employers of...1989 July 24, editorial, “Companies still backing the efforts of net managers”, Network World, volume 6, number 29, page 28:  It's hard for upper management to tighten the purse strings on a project that promises to save money, boost productivity and enable employees to respond better and faster to changing competitive situations.