First off, thank you ames for the truly amazing dvar torah!
When the mishnah says wasting time, I assume it means from learning. After all, we have a chiyuv to learn yomum vilayla, and we are only excused from learning when performing a mitzvah or vital duty (raising kids, making a parnassah, etc.) Besides for those times, we are michuyiv to spend all our time learning. So for this week, I think we should all be mekabal on ourselves to spend some time that we usually waste learning. A good time to do this would be for those of us who take buses. Bring a sefer with you, or load up an MP3 player with your favorite shiurim (I’m pretty sure there used to be a topic in CR filled with links to Torah websites). After all, it really is ridiculous how much time we waste every day. With just a few minutes a day you can learn an incredible amount!