The Augsburg Confession says:
First, that our works cannot reconcile God or merit forgiveness of sins, grace, and justification, but that we obtain this only by faith when we believe that we are received into favor for Christs sake, who alone has been set forth the Mediator and Propitiation, 1 Tim. 2, 6, in order that the Father may be reconciled through Him. Whoever, therefore, trusts that by works he merits grace, despises the merit and grace of Christ, and seeks a way to God without Christ, by human strength, although Christ has said of Himself: I am the Way, the Truth, and the Life. John 14, 6.
One point of view that I have heard is that God plays no favorites---He has provided a means for salvation and communion (with Him) for all of us, and that it is by our behavior and efforts that we will accomplish our best spiritual and practical effort in this life.
Another point of view (and belief) that I have heard states that
C.A.R.M. writes:
Justification is by faith. True faith results in regeneration of the sinner which, in turn, results in good works. But it is not these works that earn our place with God nor keep it. Jesus accomplished that on the cross. All that we need, we have in Jesus. All we need to do to be saved, to be justified, is to truly believe in what God has done for us in Jesus on the cross. This true belief with justification before God and regeneration in the new believer, results in good works.
The other basic point of view states that our salvation is not earned nor maintained by our own efforts.
Personally, I believe that behavior on a daily basis is very important. I believe that my behavior is not entirely of my own efforts but that my relationship with God on a daily basis enables my behavior to honor Him.