Growing up in church, I've always been taught about the Savior's grace. I had learned about grace a million times, but was still a little unsure about what grace really is, and how it really works.
There's a story I was often told to illustrate the Savior's grace. In the story, a young boy sees a bicycle at the store, and he asks his father if he can have it. The boy's father looks at the price tag, and sees that the bike costs $100. The father then says, "Son, I'll tell you what. You save up all your money for the next month, and then we will come back, and you can get the bike." So the son works his very hardest to save all his money. After a month of working, the father and son return to the store. The father says to his son, "Alright, the bicycle costs $100. Do you have the money you saved?" Sadly, the son reports that he doesn't have enough money. "How much do you have?" the father asks. The son holds up his month's earnings: a meager 65 cents. "Give me all that you have," the father says, "and I will make up the difference."
This is not how grace works.
Though this is a touching story, it's a little inaccurate in its portrayal of the Savior's grace. We do not pay for ANY of our own salvation--not even 65 cents worth. The Savior did not sacrifice himself for all my sins except for one or two. He paid the price in full. The whole $100. It is only through His grace that I have the opportunity of salvation. Just as Paul wrote to the Ephesians, "For by grace are ye saved through faith; and that not of yourselves: It is the gift of God" (Ephesians 2:8).
Does this mean we don't have to do anything to receive all the blessings that come from the Savior's grace? Obviously it does not. The words of Christ are full of admonitions of things we must do and be: "keep my commandments" (John 14:15), "repent, and be baptized" (Acts 2:38), "love one another" (John 13:34), "teach all nations" (Matthew 28:19), "give to the poor" (Matthew 19:21), and even "be ye therefore perfect" (Matthew 5:48). We must constantly strive to do God's will and to follow Christ's example.
But if our salvation comes from His grace alone, and not of ourselves, then why do we have to do all of that stuff? Here's why:
The blessings of Christ's Atonement are available to every single one of us. In the Book of Mormon, Nephi teaches that "[Christ] commandeth none that they shall not partake of his salvation" (2 Nephi 26:24). But when given a gift so great as this, we will only feel comfortable in the Lord's presence if we have fully appreciated His gift by using it to its fullest extent, as well as showing our appreciation for the gift through our actions.
Imagine this: your good friend sends you an invitation to a party he's having. It's going to be a lot of fun, and everyone will be there. The invitation has been extended to you; you are welcome to be there. The day of the party arrives. You spend the morning and afternoon lounging around in an old, wrinkly, smelly t-shirt and a pair of sweat pants. You're sitting on the couch watching tv with a bag of potato chips, when you suddenly realize the party starts in 10 minutes! You quickly get up, head out the door, and run to the party. You approach your friend's house, sweaty and disheveled, and walk through the door. When you enter the home, you see that your friend's house is in immaculate condition. The very best food is being served, on his best china. You are surrounded by men in crisp tuxedos and women in fancy dresses. How do you think you would feel, standing there in your t-shirt and sweats, barely on time? You had an invitation to be there, but would you feel comfortable? Would you even want to stay?
That is the gift of grace. The Lord's mercy has been extended toward all of us, and we are all welcome to come into His presence. Unfortunately, not everyone will feel comfortable in His presence. Mercifully, God has provided a place for those who fall into this category; a place where they can be comfortable. No, they will not dwell with God. Yes, there will be regret, knowing what they could've had. But they will be comfortable, knowing the amount of glory they were given was the amount their works merited.
So let us choose to prepare, that we may feel confident and comfortable in the Lord's presence. Let us do our best to keep His commandments, to continually repent of our shortcomings, and to be an example, as we follow the example of the Savior. And let us always remember and be grateful for the Lord's sacrifice for EVERY one of us. "The miracle of the Atonement is not just that we can go home but that--miraculously--we can feel at home there." (Brad Wilcox, "His Grace is Sufficient", Ensign, September 2013.)
For more on this topic, click this link to read Brad Wilcox's "His Grace is Sufficient" from the September 2013 ensign: https://www.lds.org/ensign/2013/09/his-grace-is-sufficient?lang=eng