Meaning of “feel the pinch” in the English Dictionary

british dictionary

"feel the pinch" in British English

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feel the pinch

mainly UK to have problems with money because you are earning less than before:

When my father lost his job and we had to live on my mother's earnings, we really started to feel the pinch.

(Definition of “feel the pinch” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)