Being a student is so hard nowadays. I've been spending a lot for school requirements and different activities related to education. I'm stuck with this saying "SAVING IS WASTING", thinking that with the little amount of money I have, should I put it on an investment or should I just save it for my future expenses or emergencies. I'm also living in a country in which there are limited side hustles I could do to earn extra for investment, so I'm troubled somehow.
I'm not sure about the saying that the OP linked, I've never heard of a saying like that, and I think it can mislead anyone.
Precisely because saving you can avoid your waste, I think you have blamed the frugal ways of living, namely saving.
You can separate savings and investments, you cannot use your investment funds when you need them suddenly, but you can use your savings whenever you need them.