Blessings come when we daily, all of the time, meditate on the things of God. I believe this to be more than just reading and meditating on the words of the Bible. After all, it would be nearly impossible to be reading all day and all night. So the Psalmist must be referring to more than just reading the Bible (the law) when writes that we are blessed when our “delight is in the law of the Lord, and on his law [we] meditate day and night.” (v. 2)
Since it is virtually impossible to be reading every moment of every day, the meditation he writes of must include more than the reading of His Word. I believe verse six gives us a clue to the answer. It tells us that “the Lord watches over the way of the righteous.” When the way of the righteous is in a spirit of continual mediation, then we are blessed.
In other words we must not only meditate on His Word, but we should also be in an attitude of continuous prayer in our thoughts and in the things we do throughout the day. When we are always focused on God, through ongoing meditation in both a prayerful mindset and knowledge of the Bible, we can be sure that we are not like “the wicked [who] are like chaff that the wind blows away.” (v. 4)
As we meditate both day and night our lives take on a focused stability. We are no longer subject to every problem or situation that might otherwise blow us off course and away from the blessings God intends for our lives. We are blessed because we have become rooted in God and stable, “like a tree planted by streams of water.” (v. 3)