The test goes on to say that the judgment is for the purpose, “that every one may receive the things done in his body, according to that he hath done, whether it be good or bad.” It is therefore a test of our works.
1 Cor 3 deals with this test, showing that our works will be tested by fire. That which is precious to God is gold, silver, and precious stones and will stand the test. That which has no value to God will burn up as wood, hay, and stubble.
The sin of that waste is under the blood of Christ, but do you want to see your life portrayed as a waste and have everything weighed as eternally valueless? Then start redeeming the time, live with eternity’s value in view, bring every aspect of your life under the authority and headship of Christ, and start serving the Lord before it’s too late.