Verschwendung — squandering. A strong word in German, applied to time, money, materials and talent alike.
Sparsam — thrifty, and it is praise. Applied to a person, an engine or a design.
Aus wenig viel machen — to make much from little.
Wer den Pfennig nicht ehrt, ist des Talers nicht wert — who does not honour the penny is not worthy of the thaler.