Let’s do it and listen to how the shoe pinches

This one is a little far-fetched for my taste, but it needs to be posted nonetheless.   This is a mix up of “if the shoe fits” (an unflattering remark that is true so should be accepted) and probably “feel the pinch” (having less money), although the speaker may have just been thinking about ill-fitted shoes that pinch the toes and feet.   Any other suggestions on this one would be appreciated.