How do we know we are bought with a price according to the Bible?

The notion of being 'bought with a price' is rooted in the sacrifice of Jesus Christ, indicated in 1 Corinthians 6:20. This sacrifice signifies the precious nature of Christ’s blood, shed without spot or blemish for the redemption of His people. As believers, recognizing that we have been bought by the blood of Christ emphasizes the cost of our salvation and God's ownership over our lives. It compels us to live in a way that reflects gratitude and reverence for such a profound gift, acknowledging that our existence now serves His purposes.