Start by asking what does it say?  Paul prayed they would walk worthy of God’s calling and that God would by His power fulfill every good purpose of theirs and every act prompted by faith.  Then, that Jesus would be glorified in them and they in Him, according to God’s grace. 

Next, ask what does this mean?  God observes our walk and desires to count us worthy.  Having a good purpose isn’t enough, nor are acts prompted by our faith.  What we do for God will only be fulfilled by God’s power, which will be released in response to our faith.  Acts of faith are prompted when we identify a good purpose, that is, a purpose that ultimately glorifies God.  When such a purpose is fulfilled it’s because of God’s grace. 

Then ask, how do I apply this to my life?  Make sure what you purpose is good, by checking it out with what the Bible says, pray about it, seek godly counsel, and then wait on God. 

I once had such a purpose develop in my heart when a mission organization asked me to help with a project to translate one of my books into Russian and print 50,000 copies for church leaders in Ukraine, Russia and Belarus.  The cost was, $40-$50,000.  That’s way beyond what I could do, but it was a good purpose.  I sought God and the counsel of others and determined I needed to act on it by faith, trusting God to fulfill this purpose by His power and for His glory.  Praise God, He did.