57.
Brandr af brandi
brenn, unz brunninn er,
funi kveikisk af funa;
maðr af manni
verðr at máli kuðr,
en til dælskr af dul.
Torch from a torch
burns, until it burns out,
flame kindles itself from flame;
man from a man
knows truth from speaking,
but folly from the fool.
 

Like breeds like we might say: just as the flame passes from torch to torch, so the light of learning passes from a wise one to a willing student. It burns brightly as long as there is fuel for it -- an eager mind. It's a constant refrain of the verses, but if you listen to fools you learn nothing but foolishness. Be mindful of where you sit. Better silence than foolishness.
 
58.
Ár skal rísa,
sá er annars vill
fé eða fjör hafa;
sjaldan liggjandi ulfr
lær of getr
né sofandi maðr sigr.
He must rise [early]
who would gladly have
the wealth or life;
seldom will the lolling wolf
get the lamb's thigh
nor the sleeping man victory.
 

We know all about the early bird getting the worm; here the advice is the same but with the vivid example of the busy wolf grabbing the lamb's 'ham' or thigh. The sleeping warrior will not get victory any more than the sleeping wolf her dinner.
 
59.
Ár skal rísa,
sá er á yrkjendr fáa,
ok ganga síns verka á vit;
margt of dvelr,
þann er um morgin sefr,
hálfr er auðr und hvötum.
He must rise early
who has few workers,
and get right to his work;
many things will delay,
he who in the morning slumbers,
yet half the wealth to he who's keen.
 

In typical Nordic litotes, to have 'few workers' is to have only yourself. Rise up early and don't procrastinate, because there is no one else you can count on. Half delayed is half unpaid! While this may seem more puritan than viking, they have in common a harsh life with a lot of tedious chores to maintain food and comfort.
 
60.
Þurra skíða
ok þakinna næfra,
þess kann maðr mjöt,
þess viðar,
er vinnask megi
mál ok misseri.
Of dry sticks
and bark roofing,
of this a man ought know the measure;
of this wood
which should last
a quarter or a sixmonths.
 

This stanza is a little more tricky. The basic sense is clear enough: practical knowledge will save you work. Knowing what kind of wood lasts longest before you use it as roofing is very wise. It plays with the concept of 'measure' both as a way to evaluate knowledge and as actually measuring wood for building. The lengths of time aren't terms we use as often now; some translators just use "short and long" for the seasons, but clearly the difference was more specific and meaningful in this agricultural community.
See also Meditations on Hávamál, 52-56, Meditations on Hávamál, 48-51, Meditations on Hávamál, 44-47, Meditations on Hávamál, 40-43, Meditations on Hávamál, 35-39, Meditations on Hávamál, 31-34, Meditations on Hávamál, 27-30, Meditations on Hávamál, 23-26, Meditations on Hávamál, 19-22, Meditations on Hávamál, 15-18, etc.

 I use the Evans edition of the poem to begin and compare with translations here and here. The original text comes from the Heimskringla site in Norway. I also received a new translation of The Poetic Edda from Hackett Publishing; when I get a chance, I'll review it.