Marguerita-Cheng-18-Can you explain the time value of money concept

What is the time value of money and why does it matter? So the time value of money is one of the most fundamental and important concepts of personal finance. Essentially, here's an example of how the time value of money can work for you. Dollars one thousand today is worth more than one thousand dollars in the future. If you have the ability to invest today, that means your money can work for you. It's not about trying to time the market, but it's about the time you are in the market. That's time value money working for you. Time value of money can work against you and that's essentially what inflation is. It means that your one thousand dollars today is not going to buy one thousand dollars worth of goods twenty years from now. And that's time value of money working against you. So it's important to take advantage of time value of money and compound growth so that you can build wealth for your future.