The purpose of Bible study is to dig beneath a merely superficial reading of the Bible. It means you wrestle with the apparent contradictions and grapple with the hard passages that challenge your dearly-held beliefs. It means you consider the implications and ramifications of what the text is saying. It invites you to gain a greater appreciation for Who God is and what He has done. It moves you beyond the shallow Christianity that is so prevalent in today's church into something deeper and more satisfying. It forces you to leave behind your small conceptions of Biblical doctrines and confront a reality that is greater than you had thought.
The kind of study recommended here is called the Inductive Method. This is a three-fold approach to the text: observation, interpretation, and application. Each step builds upon the previous one, in order. The first step of observation involves an examination of the text, with an understanding of the context. After observations, the second step of study involves asking interpretative questions and formulating answers to those questions. After the determining the meaning, the final step is application. That is, what are the theoretical and practical ramifications of the text and how do you appropriately apply it to all aspects of the your life?
In practical terms, how does one do this? One certainly must start with reading it. Inductive study goes beyond that by asking you to answer questions. There are many inductive studies out there, but they mostly follow the idea of asking you to answer a series of questions. Answering these questions after considering (and re-reading if necessary) the passage, you are forced to deal with it on a deeper level. The actual questions vary between methods, but there is no "secret recipe". The specific questions aren't handed down by angelic visitation and, to some extent, aren't important in themselves - so long as they force you to truly engage with the scripture without going off on flights of fancy. Below, we've included a series of questions that you can use in your own study. Feel free to add more, if you wish. However, we'd recommend that you don't ignore any of them as they are, in total, intended to get you to address all important aspects of a passage (although sometimes one or more may not be relevant to a given passage).
Consider reading the passage out loud before you start, or listen to someone else reading it. Reading and hearing are different "gates" into the mind. We want to engage as much of our mind as possible when we study the Bible ("Love God with all your mind..."). If there is a scripture song, or songs, related to this passage, you may wish to sing it. Some people even write down the passage word for word as that engages yet another part of the mind. These things may sound silly, but it is surprising how often new perspectives can be gained simply by reading a passage out loud, or writing it out by hand.
One final point, and this may be the most important one: one should always approach scripture from the standpoint of what was the intended meaning for those to whom the passage was directed. If you, as so many do, approach it entirely from a standpoint of "what does this mean to me?" you will never discover the deeper meaning of the passage. If you make it all about yourself, you've limited the scope of the study to the limits of your own current understanding, presuppositions, and level of spiritual maturity. The purpose of Bible study is to understand God better and bring our thinking and actions in line with what He tells us through the Bible. This demands that we change. Our perspective must change since none of us has perfect understanding this side of heaven. If studying the Bible doesn't change you, you've completely missed the point of it.
Briefly, here are the things you should write down as you do your study.
Now you see why a study will take you more than a few minutes. That is why you should set aside a specific amount of time each week for study.
* An honest question is one in which you are seeking understanding. A dishonest question is when you've already made up your mind and the question is more of an accusation.