water proofing your wood

since this has been asked and reasked over the last year and a half, i am going to make this a sticky. it will help save gpw's sanity. 
75% Mineral Spirits - 25% Cheap Polyurethane varnish... Well proven , Thrifty Waterproofing mixture... Get the common “Paint thinnerâ€

75% Mineral Spirits - 25% Cheap Polyurethane varnish... Well proven , Thrifty Waterproofing mixture... Get the common “Paint thinnerâ€