Time value of money is simply the power of money. As you know by time like we human beings get weak and loose our powers similarly our money looses its worth by time. Hence we can say that the dollars you have today are more powerful than the dollars you will have after one or two years.
In finance money considered to possed two types of powers.
1- Power of Earning like bank interest
2- Power of Purchasing
Becuase your money has the power to earn today, if you spend it on purchasing something lets say a TV, you are loosing out on the interest part it could earn by investing or keeping it in Banks.
Hence by the defination of time value of money one can say that your money is probably more powerful today than its in future simply becuase inflation eats it worth by time. So rather spending it here and there, try to invest your money in good intruments like mutual funds or Gold so that it can earn interest, give you good and beats inflation.