Does it matter what time I use my medications?

It may matter. Certain medications are more effective if taken at certain times. Also, some medications need to timed around meals or activities. Blood pressure medications, cholesterol medications, osteoporosis medications and some antibiotics would be some examples of these. Consult with the prescribing doctor or the pharmacist for more information.
Depends . The so called half life of drugs vary eg some antibiotics are taken once a day and some have to be taken 6 hourly consult your md.