The above pauri of Bhai Gurdas jee's Vaar very beautifully explains how a Gursikh should lead his life and how much of this world he should accept. The word ਥੋੜਾ in this pauri represents moderation and to avoid taking corporeal pleasures.
Bhai Sahib is advising us to eat less, talk less and sleep less. I don't think it means one should starve oneself or don't talk where it is required to talk and to not get required sleep.
To eat ਥੋੜਾ means to avoid tastes and to not try to find pleasure in this world.
To talk less means to not talk manmukhi talk i.e. unnecessary idle talk or rather to avoid bad talk like Ninda, slandering, backbiting, cursing, swearing etc.
Similarly, ਥੋੜਾ sleep means to not sleep at Amritvela. It is a known fact that if we don't get required sleep, it is hard to concentrate at Amritvela and after few days of deficiency in sleeping, one's body gets tired and lazy. Less sleep means to not be lazy and sleep when one is not required to sleep.
Kulbir Singh
ਸਤਿਗੁਰਬਚਨਕਮਾਵਣੇਸਚਾਏਹੁਵੀਚਾਰੁ॥