From:  http://www.bbc.co.uk/worldservice/learningenglish/language/2013/12/131224_todays_phrase_live_in_the_present.shtml

Live in the present

Presents under the Christmas tree
In many countries, people open their Christmas presents on Christmas Eve but in the UK it usually happens on Christmas Day. Photo: BBC

Today's Phrase

Present as a noun has two meanings. A present is a gift. The present is the time we are experiencing at this very moment. When you tell people to live in the present you want them to deal with current events and not be too concerned about the past or planning for the future.
Examples:
Don't worry if your former boyfriend cheated on you. Live in the present and find another person to love!
Johnny was keen to save money to buy a house. His friends told him to live in the present and go on a holiday with them.

Take note

The expression there's no time like the present is used when you want to say that there is no reason to postpone something - that action should be taken immediately.
Example:
You've always wanted to visit your cousin in France. There's no time like the present! Go and buy a ticket now to fly there tomorrow.

Interesting fact

Most families in the UK buy a Christmas tree and send cards to friends. However, these Christmas traditions only date back to the 1840s, and are actually German in origin. That's when Queen Victoria and Prince Albert popularised a new way of celebrating the Christian festival. But the Victorian Royal Family favoured roast beef over turkey for their Christmas meal.