It is proper to praise Hashem for all the good He does for us. Even if our mouths were full of song etc., we would still not succeed in praising Him enough. Silence is [almost] a better praise. Still, we cannot get by with nothing¸ so it is proper for every individual to praise and exalt Hashem from time to time — especially when one is recounting some endeavor and success, the person should simultaneously have the Name of Heaven in his mouth and say: “Praise to God, may He be blessed, for He has wondrously bestowed His kindness upon me, and so far He has helped me do such-and-such.”
Even if the person experiences hardship, he should praise Hashem for granting him the merit of being among those of whom it is said: For Hashem admonishes the one He loves (Mishlei 3:12), as opposed to those of whom it is said: He repays His enemies in his lifetime to make him perish (Devarim 7:10). And he could praise Hashem for not afflicting him with more intense suffering, for Hashem is merciful in justice and He collects the person’s debts for his own good.
And if Hashem has favored a person, granting him more than others, it is proper that he praise Hashem for favoring him so — which he received not because he deserved it but because of Hashem’s compassion and mercy, since one can see that better men than he lack all that good. Let the person be humble and internalize the perfect faith that it is Hashem who gives him the strength to amass wealth, that everything is from His hands and that Hashem is the God of thoughts, and [men’s] deeds are accounted by Him (I Shmuel 2:3).
All the more so, a person whom Hashem favored and bestowed benefits for the soul — how much more so must he praise Hashem. He must praise Hashem for granting him the merit of being among those who dwell in the Beis Midrash and for granting him wisdom and understanding. And, above all, he must thank Hashem for granting him the ability to recognize the correct path more than others, those who believe their path to be the straight one.
Similarly, if Hashem gave a person an opportunity to fulfill some mitzvah, or saved him from committing some sin — these are blessings that are greater than the entire life of the World to Come. Among Hashem’s acts of kindness is that He is pleased with our blessings and praise of Him and He counts them as a mitzvah for us for which we will receive reward. Our Sages even said that anyone who experienced a miracle and praised Hashem for it, his reward will be that Heaven will bring about another miracle for him. Therefore, for all this, praise Hashem, for He is good and His kindness is everlasting.