Ephesians 2:8-9 For by Grace have you been saved, through faith, and that not of yourselves, it is the gift from God, not of works, that on one could boast.

Right? Grace saves us from the judgement of sin. so if i sin today i will not have to pay the penalty for that sin, Christ covered it by his blood on the cross, once and for all. yes.
you can not follow torah (the teachings) and be saved. the law does not save you from sins.
Gods
Resources
At
Christs
Expense
saves us from having to pay the penalty for our sins.
But,

James 2:14 What good is it, my brothers, if a man says he has faith, but has not works? Can faith save him? Even so,faith, if it has not works, is dead in itself.

Most people in the church today will tell me that they do not have to live Torah, (works) because they are under Grace. Gods grace covers all sins. Gods grace saves me from the penalty of my sin. yes. In the OT if you broke Gods law you were punished right then.
ok, so what is "sin"? Sin by definition is 'missing the mark" missing the mark, means you are aiming at the bulls eye, and miss the mark. Sin then, is you are trying to please God and miss the mark. So how as a unbeliever do you miss the mark if you are not aiming at it?  So what an unbeliever does is replace God with his own god. His own way of doing things, His own law.  So really, what is happening is the unbeliever has FAITH that God is the one true God and has FAITH that God will forgive the error of his thinking and his lifestyle and apply grace to his life so that he will no longer sin before God.   so if you have GRACE applied to your life, you have Gods resources at Christs expense, do you continue to live as you did before the grace was applied? Do you continue on the path you were on, or you do you use Gods resources to live as God commands us to live?

God's grace gives you the jersey of his team. God signs a contract with you and gives you his playbook and says welcome to MY team.  You have been chosen to play on Gods team! So it comes  time that God calls you onto the field to make a play, according to his play book you are to run a crossing pattern, go five yards and then run to the middle of the field so you can catch the ball and run with it.  You get on the line of scrimmage and when the ball is hiked, you take off towards the end zone. The play is blown, you get back to the huddle, and the quarterback asks you what happened, and you say, i brought my own playbook. it works for me.  I have a signed contract that allows me on this team, but I don't need to follow your playbook, its old and outdated.  After a down or two, you will find yourself on the bench, not having any benefit of playing on the field. and after the game you will find yourself in the owners box. the owner of the playbook says to you, I wrote this playbook from scratch. i know it works, it helps the team win and it is flawless. You are going to tell the owner of the playbook that you know better? His playbook is no longer valid because it is a new era? Then my friend, you just broke your contract with your team. If you wont follow the playbook, you can not be a part of the team. 

Gods blessings on our life are not just  because we have grace. We have Gods blessings on our life because we follow Gods teachings that he gave us to live a life pleasing to him. Gods commands are not just a list of do's and don'ts they are they way to live to be blessed by God in all of our life. If I marry someone, and he asks me to not wear the color red because it was offensive to him, and yet I  continue to wear red, am i honoring and respecting my spouse? no. God has told us to follow his teachings and his covenant so that He may bless us. When we choose to not honor his teachings and his covenant and say his covenant was done away with is that honoring to God? Is that living a life that God would have us live so he can bless us? How can God bless us if we deliberately choose to not obey his teachings? If we tell the Creator of the universe that His ways are no longer valid, how can we expect to be blessed by him in our lives? How can we have Gods' resources working in our lives? His teachings are His ways. His ways are higher than our ways, His thoughts are higher than our thoughts. Our thoughts should be on ways to honor and respect God as the authority in our life and in our hearts.

Yes church, Gods grace saves us from the penalty of our sins, but Gods teaching show us how to how to have a civil society and to honor and respect our God  in all that we do.