Grace saves us as God's unmerited favor in Jesus Christ our Lord. There is no way we can merit nor earn the favor of God. Grace saves us only as the gift of God. Faith in Jesus Christ saves us by the grace of God. We cannot be good enough to merit God's favor. Grace is not for good people. Grace is for sinners, and that includes all of us (Romans 3:23).
Grace saves us with deliverance from condemnation and everlasting punishment. It is by grace through faith we are saved (Ephesians 2:8-9). God works in and through us to do His will by grace alone. The Spirit of grace works in our hearts, which is the mind, will, and emotions. Grace gives us the ability and desire to do God's will (Philippians 2:13).
Grace that saves us in Christ is not in vain. But by the grace of God I am what I am, and his grace toward me was not in vain, but I labored more abundantly than they all, yet not I, but the grace of God which was with me (First Corinthians 15:10). As a believer in Christ, you can say by the grace of God, I am what I am.
Grace saves us through a personal relationship with God, in Jesus Christ our Lord. Grace reveals God in us through the Spirit of Christ (Romans 8:9). It's not what we do for God (Romans 11:6). Grace is what God has done for us in Christ. All that we are, or ever hope to be, is by God's grace in Christ.