Meaning: The phrase, ‘waste not, want not’ means that “if you don’t waste money and other vital resources in your present moment, then you will never fall short of it in the future.”
In simple words, if you save money, valuable or other thing in your present time, then these things will remain there for your future use, and you will not feel the need to get it again.
Teachings: Not just money, one should not waste such thing as food, valuables, etc. One should also not waste his time, and energy in doing wasteful tasks.
Brief explanation: A person indulged in wasteful expenditure will not be able to save much for his future. On the other hand, a person who saves money every moment will have enough money to fulfill his wants in future.
People who spend money only on things that they need will never suffer from want. However, people who waste money on thing that they do not need may suffer from want of money. It is very difficult for such person to avoid the pinch of poverty.
One should spend money cautiously. It should never be spent in an un-economical manner. It is said, ‘money saved is money earned.’ Similarly, wasteful expenditure is equivalent to losing money.
A similar proverb says, “Willful waste makes woeful want”. It you willfully waste money, food, valuables, time, energy, etc. in the present moment, then you may get into a situation when there is shortage of supply of such things. Remember, “Time is money”. Time wasted on unproductive tasks is lost forever. One cannot stop the passage of time. Every ones energy and talents are valuable assets that should be put in right direction. Wastage of time, energy and aptitude is equally harmful for an individual.
Conclusion: The proverb warns us that we should not carelessly waste money and such other things that are vital to human life. One should never waste any such thing that is difficult to acquire. If we can avoid waste, we will surely experience happiness in our lives.