Hold The Purse Strings Meaning

(idiomatic, colloquial) To be in control of spending; to have financial power and responsibility.

Example: 1787, James Madison, The writings of James Madison: comprising his public papers and his private correspondence..., page 158:
  The other branch was more immediately the representatives of the people, and it was a maxim that the people ought to hold the Purse-strings.
1985, Jerome Hellmuth, Coping with parents, page 62:
  The power structure of the family is being shared by wives and husbands, mothers and fathers. Both hold the purse strings.