Warning! Knowing God's Word, studying it, even memorizing it is not enough. It will not save you. The Pharisees knew God's Word. They knew all of God's promises and could participate in great arguments concerning the Scriptures. They knew the Book well, but didn't know Jesus. They knew what the Author said about the Lord, but they did not have a personal relationship with Him.
Jesus said, "You diligently study the Scriptures because you think that by them you possess eternal life. These are the Scriptures that testify about me, yet you refuse to come to me to have life." (John 5:39-40)
Don't miss the One who gives life. Knowing and even memorizing what the Scriptures say about Him will not save you. Eternal life comes from knowing Him, believing His Word and having a personal relationship with Him. It is a great thing to love God's Word and memorize it, but don't be like the Pharisees and miss knowing the One about whom it is written.
As the psalmist said, we need to let God's Word be "a lamp to my feet and a light for my path." (Psalm 119:105) Psalm 119 is filled with truths about God's Word. The psalmist said in verses 10 and 11, "I seek you with all my heart, do not let me stray from Your commands. I have hidden Your Word in my heart that I may not sin against You."
We need to know Him personally - not just about him. We need to seek the Lord with all our hearts, keep His commands and yes, we need to hide His Word in our hearts [memorize it] so we won't sin against Him.