You find note: 'Get Granny, for one, to loosen the purse strings'? (6)

I believe the answer is:

unknot

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'loosen the purse strings'?' is the definition.
'unknot' can be an answer for 'loosen' (I've seen this before). I am not certain of the 'the purse strings'?' bit.

I don't understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for unknot that I've seen before include "Untie" , "Simplify" , "Remove tie" , "Free from ties" , "Loosen" .)

I've seen this clue in the Irish Times (Crosaire) and the Irish Times.

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