One of the primary ideas in this Psalm is commitment, and the other is trust. Both are essential to how we relate to God. Depending on Him to intervene on our behalf as we pursue Him daily is the foundation of this relationship's element of trust.
When we have faith in God, we accept His promises even before they are realized. In this text, David urges others to put their faith in God. Given that God's promises aren't often fulfilled right away. This makes sense. Pleasing the flesh is sometimes more expedient. For this reason, David specifically warns against imitating the evil and wicked. It can be challenging at times to wait for the Lord to act on our prayers. 
Even though following the wicked can result in financial gain and an even greater position in society, these advantages are transient. God's love is unending, and as a result, so are His gifts. Committing our ways to the Lord means giving Him control and guidance over everything in our lives, families, work, and possessions. Committing ourselves to the Lord is trusting that He will look after us better than we can. Trust in the Lord and wait patiently for Him to act. He will carry out His perfect will in each of our lives.

Dear Heavenly Father, I trust Your plan for my life. I pray that You grant me patience while I wait. Help me to keep my eyes on Your promises and not those around me who appear to be doing very well. I commit my way to You and trust that You will lead me to prosperity and a fulfilled life. Help me to understand and appreciate the season of my life that I am in today. 
In Jesus's name I pray, Amen.