cut (one's) cloth

To act in accordance with one's limitations, often financial. Primarily heard in UK. You'll go bankrupt if you don't start cutting your cloth. I know you don't want to lay off any of your workers, but you've got to cut your cloth to keep the business afloat. If you want to buy a house, you need to cut your cloth and really save your money.

If you cut your cloth according to your situation, you limit what you do to take account of the resources you have. Ford would be forced to cut its cloth according to the demands of the market. The Government would have to cut its cloth and eliminate programmes which were not used. Note: You can also say that you cut your coat according to your cloth, with the same meaning. Organisations which are supported by the taxpayer must cut their coats according to their cloth.