saddle wax = wood wax?

[Europhyllia]

If I look on the ingredient list of my saddle balsam it looks like it's mainly just oils and beeswax and some lemongrass smelly stuff.
I actually don't even use it on my saddle. lol
Now I was going to order some wood wax for my spinning stuff (unfinished wood on spinning wheel and drop spindle) and the ingredient list of the wood wax looks pretty much the same. From the picture it even looks like the same consistency.

So if both is just a mix of beeswax and oils and smelly stuff... could I just use my saddle wax as a wood protectant? or is there some kind of significant difference?

[Kristy]

Seems worth trying.... What could go wrong?

[Europhyllia]

I don't know? Maybe turning a $250 spinning wheel into a greasy mess. It does sound like it should be okay since ti has the same ingredients though right?