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"feeling the crunch" is correct and usable in written English.
It is used to describe a situation or feeling of being under pressure, having financial troubles, or lacking resources. For example, "Many businesses are feeling the crunch due to the economic downturn."
Exact(32)
Even successful ventures are feeling the crunch.
"As a 21st-century African woman, I'm feeling the crunch.
In Valencia, every type of restaurant is feeling the crunch.
Companies are feeling the crunch throughout the industry.
"When it comes to cutting pay, you know everyone's feeling the crunch".
Moreover, as the economy worsens, even the college educated are feeling the crunch.
Similar(28)
Community colleges are feeling the same crunch.
Eight to 10 would have been ideal, and he is feeling the numbers crunch.
But the high demand and low density of U.S. cities feeling the housing crunch underwrites the financial feasibility of ADUs.
This growth is not likely to be seen at discount stores; their customers are feeling the credit crunch.
Russia is also feeling the economic crunch of the Ukraine crisis and its takeover of Crimea, with wealth leaching from the country at a rate rarely seen before.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com