Salvation - What It Means In A Nutshell

We have been delivered (rescued, ransomed) from sin’s:

 1.     Penalty - Christ became our propitiation (sacrifice) to avert the wrath of God. 

·       Rom. 3:25 - Whom God hath set forth [to be] a propitiation through faith in his blood, to declare his righteousness for the remission of sins that are past, through the forbearance of God;

·       2 Chr. 5:21 - For he hath made him [to be] sin for us, who knew no sin; that we might be made the righteousness of God in him.

2.     Power - The body of sin was circumcised (cut away) in Christ.

• Rom. 6:6 - Knowing this that our old man (Gal. 2:20; Rom. 5:24; Rom. 6:14) is crucified with Him, that the body of sin might be destroyed, that henceforth we should not serve sin. (7) For he (1 Pet. 4:1) that is dead is freed from sin.

The body of sin is what Adam put on when he willingly yielded his members to Satan.  Whom ye yield your members to obey, his servants ye are.  It is a prison, a yoke of bondage, whereby Satan takes us hostage and darkens the eyes of our understanding to the things of God.  It is the body of death.

• Col. 2:11 - In whom also ye are circumcised (cut away) with the circumcision made without hands in putting off the body of the sins of the flesh by the circumcision of Christ (Col. 3:5; Rom. 6:6; Rom. 7:24; Gal. 5:24.
• Col. 2:13 - And you, being dead in your sins and the uncircumcision of your flesh, hath He quickened (made alive) together with Him, having forgiven you all trespasses.

3.     Presence - We no longer have to deal with sin in our lives if we yield our members to Christ because He became sin for us. 

• Rom. 6:16-18, 22 - Know ye not, that to whom ye yield yourselves servants to obey, his servants ye are to whom ye obey; whether of sin unto death, or of obedience unto righteousness? (17) But God be thanked, that ye were the servants of sin, but ye have obeyed from the heart that form of doctrine which was delivered you. (18) Being then made free from sin, ye became the servants of righteousness. (22) But now being made free from sin, and become servants to God, ye have your fruit unto holiness, and the end everlasting life.

For further consideration, break down all the scriptures above and then study the following words:
Regeneration, Propitiation, Salvation, Ransom, Amnesty, and Reconciliation in both Hebrew & Greek to understand what it means to be forgiven of sins.  Chow!