Loose
Loose is an adjective, the opposite of tight or contained.
- My shoes are loose.
- I have a loose tooth.
- There’s a dog running loose in the street.
Lose
Lose is a verb that means to suffer the loss of, to miss.
- I win! You lose!
- Don’t lose your keys.
- I never lose bets.
The Bottom Line
Simple carelessness leads people to write loose when they mean lose. Just remember that lose has one o, and loose has two. Start with loose, lose an o, and what do you get? Lose!
or:
In order to lose weight, you need to lose an “o” from the word “loose.” And if your clothing is too loose it is probably because the additional “o” in the word “loose” adds more space between the “l” and the “s” in the word “lose.”
Source: English Learning and Walk in the Words
Ascension Editing 