I am presently reading the book The Cost of Discipleship by Dietrich Bonhoeffer. The first section of this book focusses on what he terms "cheap grace". I include some passages below that make the notion quite clear.
Cheap grace is the deadly enemy of our Church. We are fighting today for costly grace. Cheap grace means grace sold on the market like cheapjacks’ wares. The sacraments, the forgiveness of sin, and the consolations of religion are thrown away at cut prices. Grace is represented as the Church’s inexhaustible treasury, from which she showers blessings with generous hands, without asking questions or fixing limits. Grace without price; grace without cost! The essence of grace, we suppose, is that the account has been paid in advance; and, because it has been paid, everything can be had for nothing.
Cheap grace means grace as a doctrine, a principle, a system. It means forgiveness of sins proclaimed as a general truth, the love of God taught as the Christian 'conception' of God. An intellectual assent to that idea is held to be of itself sufficient to secure remission of sins. In such a Church the world finds a cheap covering for its sins; no contrition is required, still less any real desire to be delivered from sin. Cheap grace therefore amounts to a denial of the living Word of God, in fact, a denial of the Incarnation of the Word of God.
Cheap grace is the grace we bestow on ourselves. Cheap grace is the preaching of forgiveness without requiring repentance, baptism without church discipline, Communion without confession. Cheap grace is grace without discipleship, grace without the cross, grace without Jesus Christ, living and incarnate.
Do you see your reflection in these words? Are you living a life based on cheap grace? What is the alternative?
Costly grace is the treasure hidden in the field; for the sake of it a man’ will gladly go and sell all that he has. It is the pearl of great price to buy which the merchant will sell all his goods. It is the kingly rule of Christ, for whose sake a man will pluck out the eye which causes him to stumble, it is the call of Jesus Christ at which the disciple leaves his nets and follows him.