As sinful human, we are subject to God’ wrath and justice. There is absolutely nothing we can do on our own to change the justice we deserve, and there is no amount of money large enough to pay for our sins. On our own, we are hopeless.
However, then comes two of the most powerful words in the Bible - BUT GOD!
Despite of our sins and disobedience, our God is merciful. He gave us an abundant life in exchange for our hopelessness of condemnation and death. He loved us so much that He sent His one and only Son, Jesus, to die for our sins so that the debts of our sins are paid in full. There is nothing we can do to earn it so it's only by God's mercy and grace that we are saved! 
If mercy is God not giving us the punishment and justice we deserve, then grace is God giving us blessings we do not deserve. Even though we don't deserve the salvation and His forgiveness, He give them to us anyway. By His grace, we've been given a place in the royal household of God. By His grace, we've been given the privilege of calling Him Father. By His grace, we can have eternal life. 
Our acceptance, our blessings, and our eternal hope are all free gifts of God's great love. Praise Him for what He has done for you!

Dear Heavenly Father, thank You for Your mercy and grace. How can I pay You back the love You have shown me? You're such a loving God, and I am blessed to call You my Father. Fill my heart with Your love and peace, and help me share them with the people around me. No matter what I face today, help me to reach out to You for guidance and strength. 
In Jesus's name I pray. Amen.