I Peter 1:18-19
18 For you know that it was not with perishable things such as silver or gold that you were redeemed from the empty way of life handed down to you from your forefathers,
19 but with the precious blood of Christ, a lamb without blemish or defect
In the Roman world a slave could buy his way out of slavery or have a wealthy benefactor to do it for him (if he could find such a person). The market terms for such a transaction was called, “ransom” or “redemption.”
Peter sees Jesus’ death as the ultimate price God gladly paid to free us from the slavery of sin. His payment, i.e., his own life and blood, was infinitely superior to that of gold and silver used to redeem slaves from physical slavery. The hymn, “Jesus paid it all” is wholly accurate in that He could not have possibly paid more.
However, Jesus did not pay the steepest price JUST to purchase us from spiritual slavery but to redeem us from an “empty way of life.” The word Peter uses here means, “futile, vain, void of meaning and purpose.” In other words, Jesus didn’t die just to save us FROM sin but to save us TO a brand-new life. This life would be dedicated to God and to others. This life would be reoriented to the things of God and not the things of the world. This life would desire holiness rather than unholiness. This life is the “abundant life” Jesus promised to give to all who faithfully follow him (John 10:10). Start living the redeemed life Jesus died to give you and be fulfilled forevermore.