Being in the Scriptures. The promise to Joshua was not just to him; we can also apply it to us. "This Book of the Law shall not depart from your mouth, but you shall meditate in it day and night, that you may observe to do according to all that is written in it. For then you will make your way prosperous, and then you will have good success." (Joshua 1:8 NKJV)
- Memorize--Your word I have hidden in my heart, that I might not sin against You. (Psalms 119:11 NKJV)
- Study--I will meditate on Your precepts, and contemplate Your ways. (Psalms 119:15 NKJV)
- Think about it--Oh, how I love Your law! It is my meditation all the day. (Psalms 119:97 NKJV)
- Meditate--I have more understanding than all my teachers, For Your testimonies are my meditation. (Psalms 119:99 NKJV)
Memorize will give instant recall to situations we face every day.
The "meditate" for point two is the idea of study. For the Psalmist it was studying God's rules (precepts) in the Old Testament of which there are 613. Contemplate would be to think deeply. It is an active thinking, not passive. God's ways are the ways the He lives, the rules He lives by, and the things He does.
The "meditate" for point three is a different word indicating stopping and thinking about how God's ways and rules can apply to the situation that I'm facing. It would be facets of application. Again, this is active, not passive. Passive would be to blank the mind or even go into a trance.
Meditating in the fourth verse is the same word as point three and deals with how study, thinking, and applying God's rules and ways make us wiser than any other teacher we have ever had.
If we would follow this, we would truly be successful in life. Successful does not necessarily mean financially well off, but successful in relationships between all.