This proverb means that prompt action saves a lot of time and money. For instance, if a shirt is torn, we must mend it soon or else the hole will become larger and we will have to throw it away. If anything is wrong with a machine, it is advisable for us to repair it at the earliest. Unless we do so, we will be forced to spend more money on it later. In the same way, we must consult a doctor if we are ill; In other words we must undergo treatment even when we see the signs and symptoms of a disease. Any negligence on our part to do so will make our condition worse. In short, the work done at the right time saves much energy and expenses. If the error or defect is not set right in time, it may become serious or even irreparable in course of time.