Monergism

There are two ways to read the Bible. The one way to read the Bible is that it’s basically about you: what you have to do in order to be right with God, in which case you’ll never have a sure and certain hope, because you’ll always know you’re not quite living up. You’ll never be sure about that future. Or you can read it as all about Jesus. Every single thing is not about what you must do in order to make yourself right with God, but what he has done to make you absolutely right with God. And Jesus Christ is saying, “Unless you can read the Bible right, unless you can understand salvation by grace, you’ll never have a sure and certain hope. But once you understand it’s all about me, Jesus Christ, then you can know that you have peace. You can know that you have this future guaranteed, and you can face anything.”
Tim Keller

How may I know I have understood the gospel and that I am elect? First, by the Word of God having come in divine power to the soul so that my self-complacency is shattered and my self-righteousness is renounced. Second, by the Holy Spirit convicting me of my woeful, guilty, and lost condition. Third, by having had revealed to me the suitability and sufficiency of Christ to meet my desperate case and by a divinely given faith causing me to lay hold of and rest upon Him as my only hope. Fourth, by the marks of the new nature within me - a love for God; an appetite for spiritual things; a longing for holiness; a seeking after conformity to Christ. Fifth, by the resistance which the new nature makes to the old, causing me to hate sin and loathe myself for it. Sixth, by avoiding everything which is condemned by God's Word and by sincerely repenting of and humbly confessing every transgression. Failure at this point will surely bring a dark cloud over our assurance causing the Spirit to withhold His witness. Seventh, by giving all diligence to cultivate the Christian graces and using all diligence to this end. Thus the knowledge of election is cumulative.
A .W. Pink