Your lower body before your legs is your waist, and when you get rid of something still good is when you wast it.
The homophone for "waist" is "waste."
Waste
waste and waistwaste waistwaist He wore a belt around his waist.
WasteShe wore a belt on her waist. I hate to waste time arguing with you.
Waste
electronic waste not waist
waist He wore a belt around his waist.
waste
If you are referring to "rubbish" or "waste bin" it is spelt waste. If you are referring to the body-part/hips it is spelt waist.
waist
Billy Joe Bob threw a waste basket at Milly Marble Margrets waist.
electronic waste not waist