Off the top of my head, there are things that could cause your problem.
 You have the pivot set to the Cursor instead of Median Point. In the menu along the bottom of the 3-D screen is a control that if you move the cursor over will say “ROTATION/SCALING PIVOT”. Click it and ensure that “Median Point” is selected.
 The object’s median point is not centered. Leave Edit mode and enter Object mode. Select the object. In the Editing context, in the Mesh pane, press the Centre New button.
Charlesworth999 has the problem, not me. I’m just trying to help.
If I am reading his problem aright, he is selecting an object, turning on the translation widget, and being annoyed by the fact that the widget is not appearing at the center of the object, but instead at some distance away.
My suggestions are ways to get the translation widget back into the center of the object.
Refer to the image. The cube is selected, but the translation widget is NOT at the center of the object. This is either because the pivot center is set to the cursor and not the object, or if the object’s center has become displaced.
It’s clearly a widget (transform manipulator) issue, not a cursor issue and nyrathwiz 's suggestions will solve most problems of this kind.
There is one more situation where the widget can become dislocated. This occurs if you are editing a mesh that’s deformed by an armature in Edit Mode. The only way to deal with this problem is by turning off the deformer in Edit Mode.