What is the meaning of Colossians 3:16?

* The two F.O.G. Bibles & Commentary below are currently a work in progress.

Let the word of Christ richly dwell within you as you teach and admonish one another with all wisdom, and as you sing psalms, hymns, and spiritual songs with gratitude in your hearts to God.

Berean Standard Bible (BSB)

Let the word of Christ dwell in you richly; in all wisdom teaching and admonishing one another with psalms, hymns, and spiritual songs, singing with grace in your heart to the Lord.

World English Bible (WEB)

Let{G1774} the word{G3056} of Christ{G5547} dwell{G1774}{(G5720)} in{G1722} you{G5213} richly{G4146} in{G1722} all{G3956} wisdom{G4678}; teaching{G1321}{(G5723)} and{G2532} admonishing{G3560}{(G5723)} one another{G1438} in psalms{G5568} and{G2532} hymns{G5215} and{G2532} spiritual{G4152} songs{G5603}, singing{G103}{(G5723)} with{G1722} grace{G5485} in{G1722} your{G5216} hearts{G2588} to the Lord{G2962}.

Strong's King James

(16) Let The Word of The Mashiach richly dwell in you, in all wisdom, teaching and in instruction to one another with psalms and songs. And songs of ruach-spirituals, singing in favourable grace in your hearts towards יהוה YAHWEH.

The F.O.G*

[16] Let Messiah's message live in you richly as you teach and counsel each other with all wisdom through psalms, hymns, and spiritual songs, singing to God with gratitude in your hearts.

The F.O.G Paraphrase

Let the word of Christ dwell in you richly, in all wisdom, teaching and admonishing each other, in psalms, and hymns, and spiritual songs, in grace singing in your hearts to the Lord;

Young's Literal Translation