Well, anyone who has seen The Dead Poets Society knows that carpe diem means seize the day. For extra credit though, you can translate it literally as pluck the day.

Not to be confused with carpe deum which means God is a fish.
Pronounced: Car-pay "dee-em."

carpe diem, quam minimum credula postero
Enjoy today, trust little to tomorrow.

Enjoy the day, hence "seize the present opportunity".

From Horace's Ode I. xi. 8.

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