"For you know the grace of our Lord Jesus Christ, that though he was rich, yet for your sakes he became poor, that you through his poverty might become rich" (2 Corinthians 8:9). 

This New Testament Bible verse offers the love and hope to be found through the life of Jesus Christ, but it may also be confusing. 

How, exactly, did Christ accomplish this for the faithful? And what, from this verse, can we apply to our own lives today?

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There are at least three important applications people today can put to use from this Bible verse, says one Florida-based faith leader.

"Even if we do not have a lot of financial resources, we can always give a smile, a hug or an encouraging word to someone who is hurting."

First, the context of this verse is a summary of the apostle Paul’s message to the Corinthian Christians.

He called for them to be "generous with their resources" to help believers in Jerusalem "who were very poor, due to the persecution they were going through," Jim Thompson, a retired pastor and a current global missions director from Port St. Lucie, Florida, told Fox News Digital via email.

Bible study

This New Testament Bible verse offers the love and hope to be found through the life of Jesus Christ, faith leaders say. (iStock)

"The first application for us in this verse is that of generosity," said Thompson, who works with International Cooperating Ministries, headquartered in Hampton, Virginia.

"We can all be generous toward those in need," he also said. 

"Even if we do not have a lot of financial resources, we can always give a smile, a hug or an encouraging word to someone who is hurting."

"God is reaching out to you wherever you are, whatever you are going through and whatever pain you have."

The second application of this Bible verse centers around the word grace, Thompson continued. "It speaks of the ‘grace of our Lord Jesus Christ.’"

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Thompson said, "’Grace’ is an amazing word. It means ‘undeserved favor and love.’ It is also very significant in that the grace comes from the Lord Jesus Christ. ‘The Lord’ is Jesus’ divine title — it speaks of his divinity, his deity and his pre-existence."

Photo of a woman praying

The second application of today's Bible verse centers around the word grace, global missions director Jim Thompson told Fox News Digital. "It speaks of the ‘grace of our Lord Jesus Christ.’" (Associated Press)

He continued, "As the MacLaren [Bible] Commentary puts it, ‘The highest stoops and stands upon the level of the lowest.’ Grace is love that stoops, forgives and embraces us."

He added, "God is reaching out to you wherever you are, whatever you are going through and whatever pain you have. He is reaching out to love you, embrace you and to lift you to himself."

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Finally, said Thompson, this verse speaks of the "amazing act" of Jesus, who was "rich — ultra-rich in eternal glory, power and wealth."

Cross at window

The poverty that Jesus entered into was a "physical and spiritual humiliation and anguish" that he suffered in his crucifixion as "the sins of the whole world were placed upon him to bear," said Jim Thompson, a retired pastor. (do seongyun via Getty Images)

Yet he "became poor" in order to "enter human existence" as the human called Jesus Christ, he said.

"Jesus became a materially poor man from Galilee," said Thompson. "However, this word poor goes much deeper here. In the original language of Koine Greek, it expresses the meaning of the poverty of a vulnerable, destitute beggar."

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The poverty that Jesus entered into was a "physical and spiritual humiliation and anguish" that he suffered in his crucifixion as "the sins of the whole world were placed upon him to bear," said Thompson. 

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"Yet it is through his poverty and suffering for our sins that he has provided for us the riches of eternal salvation and eternal life," he underscored.