Memorizing God's Word guards against sin.
Psalm 119:11
Thy word have I hid in my heart, that I might not sin against thee.
Memorizing God's Word helps us to follow it.
Deuteronomy 30:14
But the word is very nigh unto thee, in thy mouth, and in thy heart, that thou mayest do it.
Meditating on and following God's Word helps us succeed in every area of life.
Joshua 1:8
This book of the law shall not depart out of thy mouth; but thou shalt meditate therein day and night, that thou mayest observe to do all that is written therein: for then shalt thou make thy way prosperous, and then thou shalt have good success.
Psalm 1:2-3
But his delight is in the law of the LORD; and in his law doth he meditate day and night. And he shall be like a tree planted by the rivers of water, that bringeth forth his fruit in his season; his leaf also shall not wither; and whatsoever he doeth shall prosper.
We must meditate to memorize.
Keeping God's Word shows our love for Him.
John 14:23
Jesus answered and said unto him, If a man love me, he will keep my words: and my Father will love him, and we will come unto him, and make our abode with him.
We cannot keep God's Word unless we know it well!
The point of memorizing Scripture is not to impress people at a meeting. Our goal is to honor God by making His Word a greater part of our life.
Psalm 119:165
Great peace have they which love thy law: and nothing shall offend them.