This post comes straight from my own personal reading experiences. These words may be pronounced the same, but they certainly have different meanings.
The waist is the narrowing of the body between the hips and the ribs.
Waste could mean: 1) to use or expend (something) needlessly, 2) to lose energy, strength, or vitality (usually with away), 3) an act or instance of wasting, and 4) an uncultivated, uninhabited, or devastated area.
