In plain words
So in the Bhaja Govindam Śaṅkara gave this śloka so that we make time sacred, turn the body back towards ourselves, keep in mind the meaning “For those who have taken refuge in the One who is Time to Time itself, what can Time do?”, and understand the principle that He is the very form of Time, the One who holds Time in order, the Master of Time.
Rāmakṛṣṇa Paramahaṃsa, from daybreak until he lay down at night, used to go on counting every moment for the vision of the Goddess. At night, grieving with streams of tears, ‘I have wasted it! Even today has Your vision not come to me?’ and ‘I have wasted time!’, he would try to lie down. So you who are young must understand how many tears great souls shed over wasting time. For that sacred light they set about letting even the body be built over with anthills, gave up their bodies, and kept waiting for Him who is the very form of Time. So, without wasting time, we must do good deeds with the body and set our life on the path of making others happy. Today young people seem to be great experts at wasting time. They sit for hours on end talking about needless things. If he has nothing to do, he reads all those silly, silly books and so takes in time in the form of sin. So, with any actions at all that are of no use to our daily life, we only become people who have defiled time. When you have no work at all, sit and read good books. Set about studying the books that are the very foundation of our culture of Bhārata: the Bhārata, the Bhāgavata, the Rāmāyaṇa, the itihāsas and purāṇas, the Bhagavad Gītā and the like.
Keep Your Qualities Pure!
The mind is like a camera lens. Whatever impure stories you set this mind on, that impurity is printed on the plate called your heart. Or, because we keep dwelling on the bad in others or the impurity of others, our citta too sinks into impurity.