In Ephesians 2:8, faith is not the gift. Faith is how we receive the gift. Most Calvinists tend to speak of faith as if it is something that man cannot do. This results in a wrong understanding of man's inability. The question the Philippian jailer asked was this: "What must I DO to be saved?" (Acts 16:30). Some would answer in this way: "Nothing! You can't do anything! You are dead and totally unable to respond to God until you are regenerated. You have no part in salvation. God must do it all. You cannot exercise saving faith." This answer might harmonize with one's theological system, but there is only one problem. This is not how Paul and Silas answered the question! Paul and Silas told the jailer that there was something that he could do and was responsible to do: "BELIEVE on the Lord Jesus Christ!"
Regardless of one's theological system, Acts 16:31 is very clear. God must do the saving; man must do the believing. The saving is something that God alone must do. The believing is something that the sinner must do. Faith is when the sinner humbly recognizes his desperate need and acknowledges that God must do all the saving. Salvation is wholly the work of god; faith is wholly the responsibility of man. Man does not contribute to his own salvation. It is the work of God. God alone must do the saving; man must do the believing (Acts 16:31). Those who are saved have only God to thank; those who are lost have only themselves to blame. God gets all the credit for man’s salvation; the unsaved man must take full blame and responsibility for his eternal damnation. The saved person thankfully says, "I’m in heaven because of God!" The lost person must truthfully say, "I’m in hell because of me." His damnation is based, not on God’s rejection of him, but upon his rejection of God (Mk. 16:16; 2 Thes. 2:10-12; Jn. 5:40).
D.L. Moody once said, "Some say that faith is the gift of God. So is the air, but you have to breathe it; so is bread, but you have to eat it; so is water, but you have to drink it. 'Faith cometh by hearing and hearing by the Word of God (Rom. 10:17)’ It is not for me to sit down and wait for faith to come stealing over me...it is for me to take God at His Word."
God saves all those who place their faith in Jesus!