Baptism is the first ordinance of the gospel. It puts you on the path that leads to eternal life. By being baptized, you show that you believe in Jesus Christ and have faith in Him. When you are baptized you make a covenant to take upon you the name of Jesus Christ, to always remember Him, and to obey His commandments.
You must be baptized before you can be confirmed a member of the Church and receive the gift of the Holy Ghost. You also must be baptized before you can enter the celestial kingdom and live again with Heavenly Father and Jesus.
Heavenly Father promises that when you are baptized and confirmed, the Holy Ghost will be with you as long as you live worthy of His promptings. The Holy Ghost testifies of Jesus Christ and bears witness when you are taught the truth. The Holy Ghost can help guide you and your family in following Jesus Christ and making good choices.
Talk Source: https://www.lds.org/friend/2009/05/i-will-make-and-keep-my-baptismal-cov…