Begin by reviewing v1-3. Can you do it? If not, that's ok. Review them several times until you've got it and before moving on to the next verse.
4 Perseverance must finish its work so that you may be mature and complete, not lacking anything. (NIV)
4 And let steadfastness have its full effect, that you may be perfect and complete, lacking in nothing. (ESV)
Obviously perfection in this life is not possible for us. But growth towards perfection is. In fact, if we are not sinning less, we are not growing in our spiritual life. As we grow in the love of God and as we grow in our love for each other, we will begin to sin less often. However, as we understand more and more the holiness of God and our own depravity, that sin will bother us even more - so it may seem to us like we sin the same as we did before.
My MacArthur commentary says this:
The testing of faith drives believers to deeper communion and greater trust in Christ - qualities that in turn produce a stable, godly, and righteous character.
Our trials will product steadfastness of character which will, in turn, result in a growth in spiritual maturity.
Meditate on the truths of these verses as you repeat them over and over. Remember, we are not memorizing just for the sake of memorization - but transformation!
Saturday and Sunday will be spent on review. See you Monday for James 1:5!
LeRoy Eims on the importance of Scripture memory: "I think two of the master strokes of the devil have been to convince people he doesn't exist, and that Scripture memory is only for children. He remembers the humility of defeat when Jesus Christ, who was tempted in all points like as we are, met him with the Word of God." (What Every Christian Should Know About Growing; p. 26-27)