We'll get to that in a moment, but your translation has misrepresented what the Bible really says (v. 14).
Your translation: Therefore, since we have a great high priest who has gone to heaven, Jesus the Son of God, let us live our lives consistent with our confession of faith.
King James Bible: Seeing then that we have a great high priest, that is passed into the heavens, Jesus the Son of God, let us hold fast our profession.
Let's see which translation accurately reflects the original.
Eχοντες οὖν ἀρχιερέα μέγαν διεληλυθότα τοὺς οὐρανούς Ἰησοῦν τὸν υἱὸν τοῦ θεοῦ κρατῶμεν τῆς ὁμολογίας
Literal translation: Having therefore a high priest great, having passed through the heavens, Jesus, the Son of God, we should firmly hold to [our] confession.
Our confession is our profession of faith, which is that we believe that Jesus is indeed the Son of God, who died for our sins according to the Scriptures, and rose again for our justification according to the Scripture. So Paul is telling us to hold fast to this profession of faith. As you can see, that is not what your translation states, therefore it is totally misleading.
Regardless, you asked, "What does live our lives consistent with our confession of faith mean?" and the answer is found in Titus 2:11,12: For the grace of God that bringeth salvation hath appeared to all men,Teaching us that, denying ungodliness and worldly lusts, we should live soberly, righteously, and godly, in this present world.
Now the next question is "Are you sinlessly perfect or not?" and chances are you will say "All Christians can and do sin."
So the next question is "How will you approach the throne of grace without dealing with your present sins?"
So then the next question is "Is what is taught in the first epistle John applicable or not?" and if you are honest you will have to admit that it is applicable.
So the final question is "If that teaching is applicable, why has it been ignored over and over again by Joseph Prince, and does that not make him a false teacher?"