A weight-lifting belt position changes by lift: high under the rib cage for deadlifts to create a strong brace, lower for squats to avoid rib compression. Either way, leave enough slack to press your abdomen firmly against it for proper intra-abdominal pressure.
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belt position is going to change depending on the lift that you're doing. So I'll give you an example. If I'm deadlifting, for sure I'm higher. I'm just under the rib cage, right? So I'm able to brace. This is where I'll be on a deadlift position, just under the rib cage. Now on a squat, if I go there— if I go in the position where I am on a deadlift, as soon as I squat down, my rib cage presses and cuts through my ribs here, and it's not very comfortable as I'm squatting down. So where I'm squatting, I'm always putting my belt position much lower. Now you can see here, as I come down, right, that doesn't cut anymore. But you need enough space in the belt where you're able to push your stomach against