Why do we say "Waste not, want not"?

Meaning:

The less we waste, the less we need

Background:

This expression has been with us since at least the late 18th century, but it is preceded by an earlier version: wilful waste makes woeful want.

A number of sources say that the first recording of this earlier version is found in 1576, but they do not say where. The second half of the 16th century saw a surfeit of proverb collections being published, inspired by the success of John Heywood's 1546 collection, but we were unable to find which specific collection this phrase is attributed to.

However, we did find an 1885 illustration of the expression, which is part of the Delaware Art Museum’s collection.

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