Fear means to fear, be afraid, to stand in awe of, be awed, to reverence, honor, respect. To fear God doesn't necessarily mean or merely mean that we should be afraid of him in the same way that we might be afraid of a lion for example. After all, God created the universe and is sovereign. He does whatever He wants so we can see how we might be afraid of him in the sense of awe.To fear God also means that we revere him. This means that we hold him in the highest regard, worship him, and look up to Him. This is associated very much with the worship of the LORD and the reason for doing so.

Now I don't believe, as I said previously, that fearing God means that we should be afraid of Him. After all, why would you approach someone that you are afraid of? Also, I think it would be difficult to love someone that you are afraid of. So to fear God in this respect is more a recognition of His power and might and how you have no power over Him in any way imaginable. We have to recognize His love for us at this point else the power of God would be overwhelmingly intimidating to us. However, understanding His love for us will assure us that He is looking out for us and that we are indeed important to Him and need not be afraid of Him.

What does it mean to serve God? To serve God basically means to do work for Him or to do His work. We can be servants of God by providing a service for Him and on His behalf. This service could be absolutely anything and not limited to a particular form of religious ministry. We serve God by doing what He wants us to do.

Fear God doesn't mean literally scare of God. It means to respect Him. Believe Him. And listens to Him. I believed that those who don't do that will be punished in the end. God is never wrong. We must listen to out God. In good times and bad times He will help us. So we must respect, love and believe in him. No matter where you are, who you are, God will be there to help you. And will be looking at you every moment.
HOW CAN WE PRACTICE IT IN OUR DAILY LIFE?
We must love and respect God and not use his name in Vain. Respect the authority of people older then us. Believe that God will help those who help themselves. Uphold our school values and school rules as there are a lot of people looking at YOU everywhere. Including God.