While teaching in Bible Study in our church, I realised certain components of FAITH. They are BELIEVE, TRUST, TRUTH, HOPE and ASSURANCE. And I also discovered faith has a twin brother that propels it to work effectively, it is called Love.
To live by faith, you must believe in God and His word, put your trust in Him and His word, know for certainty that He and His word is truth. Put all your hope in Him and His word and live in assurance of the fulfilment of whatever He says. And above all, love Him and His word with all that is within you.
The just shall live by faith. God bless you.