Your airplane operates on a strict diet of air and fuel (we’ll set aside oil for the time being). Each time you fly, you’ll need to regulate its intake of those key ingredients to help the engine operate most efficiently on the ground and in the air.
The red mixture-control knob on your airplane allows you to manually control the proportion of fuel that’s delivered to the engine via the carburetor or fuel injection system. The carburetor’s job is to deliver air and fuel in the correct proportion: 15 parts of air for every one part of fuel.
On takeoff (except at high-density-altitude airports) and landing, the engine needs a rich mixture—that is to say, the red knob is all the way in. As you climb, air becomes less dense, but the amount of fuel flowing remains the same. That means the ratio is changing all the time as you climb, and less and less oxygen is blending with the same amount of fuel.
If you don’t lean the mixture at cruise altitude, reducing the amount of fuel sent to the engine, you’ll wind up needlessly burning extra fuel, and that will throw off your careful preflight planning. Check your pilot’s operating handbook for specific recommendations on leaning.