If you give a man an answer, all he gains is a little fact. But give him a question and he'll look for his own answers... It's the questions we can't answer that teach us the most. They teach us how to think.
To spend time is to pass it in a specified manner. To waste time is to expend it thoughtlessly or carelessly. We all have time to either spend or waste, and it is our decision what to do with it. But once passed, it is gone forever.