The phrase "Waste not, want not" means that if you do not waste resources and use them wisely, you will not lack them in the future.
In 1721, it was recorded as "Willful waste makes woeful want," capturing the same sentiment. By August 10, 1772, in a letter to Alexander Clark, John Wesley expressed the idea in a form resembling today's version: "He will waste nothing; but he must want nothing." Over time, the phrase simplified to the contemporary form we use today.
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