The truths of God's Word are spiritual wealth that we should continually be putting into our minds and hearts. Like deposits of money in our bank account, the deposits of divine truth become spiritual assets that we can draw on readily when confronting temptation, when making moral choices, and when seeking God's will and guidance for our lives. Paul next says that Scripture is useful for rebuking. This is the other side of the coin. Timothy must use Scripture to expose the errors of the false teachers and their teachings.
Scripture is a lamp for our feet and a light for our path.
It steers us away from sin and toward righteousness. But the idea here is that it is impossible to genuinely seek righteousness and truth if we don't hate and renounce sin and falsehood. Thirdly, Paul says Scripture is useful for correcting. This is a companion word of rebuking, except that it emphasizes the behavioral and ethical side of things. Correction is Scripture's positive provision for those who accept its negative rebuke.