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Yes! It is finished. That was the last statement of our saviour Jesus Christ (John 19:30). When Jesus uttered those words, He was declaring the debt owed to His Father was wiped away completely and forever. Not that Jesus wiped away any debt that He owed to the Father; rather, Jesus eliminated the debt owed by mankind; the debt of sin. Jesus was saying, "Mission accomplished! Everything that had to be done has been done! It is finished!" (John 17:4)
Our reaction to Jesus last statement
Jesus lived the perfect life He had to live and perfectly died the death He had to die and He said; It is finished!
We do not need to die for our own sin or pay any debt of sin, all we have to do is to put our faith in that finished work of the cross and follow that Lord who died and rose for us. Our own works cannot save us, but the work Jesus did for us on the cross can save us perfectly and forever.
The finished work of Jesus Christ on the cross was the beginning of new life for all who were once “dead in trespasses and sins” but who are now made “alive with Christ” (Ephesians 2:1,5 ).