Ask the average believer what the Bible word “grace” means, and he will doubtless reply, “unmerited favor”.
Actually, however, grace is much more than this. It is that loving attitude, or disposition, on God’s part, from which all His kindness toward us flows.
Thus we read in Ephesians 2:2-6 that we were “the children of disobedience” and therefore “by nature the children of wrath, even as others”.
“But God, who is rich in mercy, for His great love wherewith He loved us, even when we were dead in sins, hath quickened us together with Christ, (by grace ye are saved;) and hath raised us up together, and made us sit together in heavenly places in Christ Jesus.”
Note: This passage begins with those who were “children of disobedience” and “children of wrath” and, saving them “by grace,” gives them a position in the heavenlies in Christ Jesus!
God’s grace to us as sinners was great indeed, for:
“In [Christ] we have redemption through His blood, THE FORGIVENESS OF SINS ACCORDING TO THE RICHES OF HIS [God’s] GRACE.”
But now, having given us a position in His beloved Son, God’s grace goes out to us in still greater measure.
Ephesians 1:6 declares that God has “made us accepted [Lit., ‘engraced us’] in the Beloved”.
Beholding us in Christ, God loves us and delights in us more than any father ever delighted in his son, or any grandfather in that precious grandchild.
Thus, while in Ephesians 1:7 we read that we have “redemption… the forgiveness of sins, according to the riches of His grace”, in Ephesians 2:7 we see these riches of grace increased to us “exceedingly”, now that we occupy a position “in the Beloved”:
“That in the ages to come He might show THE EXCEEDING RICHES OF HIS GRACE…”
“…in His kindness toward us through Christ Jesus”! source