To have one's cake and eat it too is the instance of an person consuming, exhausting, taking advantage of or using up a particular thing and, then, after that thing is gone or no longer reasonably available, still trying to benefit from or use it. It also means having or wanting more than you can handle or deserve, or trying to have two things that arn't compatable.traceur_ said:1) What does having your cake and eating it too mean?