Meaning of 节衣缩食

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jié suō shí (Trad.: 節衣縮食)
to save on food and clothing (idiom); to live frugally
Example Sentences
They scraped and saved, but still couldn't pay for their son's education.
The euro zone's emphasis on austerity rather than structural reforms has aggravated Greece's political woes.
Will there be a protracted retrenchment among heavily indebted consumers who carry mortgages bigger than the value of their homes?
External credit will be scare to non-existent, so Greece will have to live within it means.
Most of the students came from far-flung corners of the county, a wild region thinly populated by nomads and farmers who scrimp to send their children to school in the city.