
schmal
narrow
Having little width in relation to length or height; not wide.
Der Weg zum Gipfel ist sehr schmal und steil.
The path to the summit is very narrow and steep.
narrow
Loading your saved state.

narrow
Having little width in relation to length or height; not wide.
Der Weg zum Gipfel ist sehr schmal und steil.
The path to the summit is very narrow and steep.

slim
Referring to a person or body part: thin, slim, delicate.
Sie hat ein schmales Gesicht und eine zierliche Figur.
She has a slim face and a delicate figure.

limited
Referring to resources such as money or food: scarce, small, not plentiful.
Die Familie musste lange Zeit von einem schmalen Budget leben.
The family had to live on a limited budget for a long time.
The meaning of 'schmal' depends strongly on the noun it describes. If it refers to a place or object, it means 'not wide'. If it refers to a person, it means 'thin'. If it refers to finances, it means 'limited' or 'tight'.
Wir gingen einen schmalen Pfad entlang.
We walked along a narrow path.
In the meaning 'not wide', 'schmal' is often used to describe paths, rooms, or objects. Typical examples are: 'eine schmale Straße' (a narrow street), 'eine schmale Gasse' (a narrow alley), 'ein schmaler Korridor' (a narrow corridor), or 'ein schmales Bett' (a narrow bed).
Das Auto passte kaum durch die schmale Gasse.
The car barely fit through the narrow alley.
When 'schmal' describes a person or body parts, it means 'slim' or 'delicate'. Common combinations are: 'eine schmale Taille' (a slim waist), 'schmale Hüften' (narrow hips), 'schmale Lippen' (thin lips), or 'eine schmale Figur' (a slim figure).
Das Model hatte sehr schmale Schultern.
The model had very narrow shoulders.
The meaning 'limited' or 'small' is figurative and usually refers to financial means or resources. Typical expressions are: 'ein schmales Budget' (a limited budget), 'ein schmales Einkommen' (a modest income), or 'eine schmale Rente' (a small pension).
Als Studentin musste ich mit einem schmalen Budget auskommen.
As a student, I had to get by on a limited budget.
scarce / just under / close
Knapp and schmal can both describe limited financial resources. Knapp emphasizes that the money is barely sufficient in relation to the need. Schmal describes a small, non-generous allocation more generally. When there is a looming funding shortfall, knapp is therefore the better choice.

Das Budget für die Renovierung ist schmal, deshalb beschränken wir uns auf das Nötigste.
The renovation budget is limited, so we are restricting ourselves to the essentials.
Das Budget für die Renovierung ist knapp und reicht kaum für das Material.
The renovation budget is tight and barely covers the materials.