Live and prosper, wasting nothing (5)
I believe the answer is:
dwell
'live' is the definition.
(synonyms)
'and prosper wasting nothing' is the wordplay.
'and' becomes 'n' (common abbreviation for 'and').
'prosper' becomes 'dowell' (I've seen this in another clue).
'wasting' suggests deleting specific letters.
'nothing' becomes 'no' (similar in meaning).
'n'+'dowell'='ndowell'
'ndowell' with 'no' taken out is 'DWELL'.
(Other definitions for dwell that I've seen before include "Lodge" , "stay" , "Abide, reside" , "Inhabit" , "Remain" .)