Meaning of the word "haste makes waste, and waste makes want" in English

What does "haste makes waste, and waste makes want" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

haste makes waste, and waste makes want

US /heɪst meɪks weɪst, ænd weɪst meɪks wɑːnt/
UK /heɪst meɪks weɪst, ənd weɪst meɪks wɒnt/
"haste makes waste, and waste makes want" picture

Idiom

a proverb meaning that doing things too quickly results in mistakes, which leads to a loss of resources and eventually to poverty or need

Example:
Don't rush the final report; remember that haste makes waste, and waste makes want.
He spent his inheritance too fast and now he's broke; truly, haste makes waste, and waste makes want.