1. Sing joyously to the Lord, you righteous ones; it is fitting for the upright to offer praise.
2. Extol the Lord with a harp; sing to Him with a ten-stringed lyre.
3. Sing to Him a new song; play well with sounds of jubilation.
4. For the word of the Lord is just; all His deeds are done in faithfulness.
5. He loves righteousness and justice; the kindness of the Lord fills the earth.

Tehillim Ohel Yoseph Yitzchok (Kehot Publication Society)

Tehillim is recited by Jewish people collectively and individually, as the desire occurs to offer praise and thanksgiving to G-d; or alternitavely, in times of crisis and need, as a form of supplication, and even as a venue to express regret for sin.

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6. By the word of the Lord the heavens were made, and by the breath of His mouth all their hosts.
7. He gathers the waters of the sea like a mound; He places the deep waters in vaults.
8. Let all the earth fear the Lord; let all the inhabitants of the world tremble before Him.
9. For He spoke, and it came to be; He commanded, and it endured.
10. The Lord has annulled the counsel of nations; He has foiled the schemes of peoples.
11. The counsel of the Lord stands forever, the thoughts of His heart throughout all generations.
12. Fortunate is the nation whose God is the Lord, the people He chose as a heritage for Himself.
13. The Lord looks down from heaven; He beholds all mankind.
14. From His dwelling-place He looks intently upon all the inhabitants of the earth.
15. It is He Who fashions the hearts of them all, Who perceives all their actions.
16. The king is not saved by a great army, nor a warrior rescued by great might.
17. The horse is a false guarantee for victory; with all its great strength it offers no escape.
18. But the eye of the Lord is directed toward those who fear Him, toward those who hope for His kindness,
19. to save their soul from death and to sustain them during famine.
20. Our soul yearns for the Lord; He is our help and our shield.
21. For our heart shall rejoice in Him, for we have put our trust in His Holy Name.
22. May Your kindness, Lord, be upon us, as we have placed our hope in You.