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The Seven Golden Rules of Bible Interpretation.
These are the 7 Rules of Bible interpretation:
First Rule of Bible Interpretation. Rule of Inspired Text: Only use inspired text to study and understand the Bible.
Second Rule of Bible Interpretation. Rule of Literal Interpretation: Take every word or phrase at its primary, usual, dictionary meaning from the historical time period in which it was written, except if the facts of the immediate context indicate a deeper, hidden, or symbolic meaning when studied in light of related passages and fundamental truths.
Third Rule of Bible Interpretation. Rule of Context: Words and phrases must be taken within the context of its verse, adjoining verses, and the context of the entire passage radiating outward. (The exception to this rule is that many prophetic verses are only unlocked and comprehended by locating its corresponding key located elsewhere within the entire Bible. For example, the fiery brass serpent set upon a pole in Numbers 21:8-9 is explained by John 3:14-15. )
Forth Rule of Bible Interpretation. Rule of First Mention: The first mention of a word can often define what the word means for the rest of the Bible.
Fifth Rule of Bible Interpretation. Rule of Non-Contradiction: No part of the Bible may be interpreted so as to contradict another part.
Sixth Rule of Bible Interpretation. Rule of Culture: Understanding certain cultures at the time of the Bible being written (and translated) may be crucial to unlocking the meaning of a verse.
Seventh Rule of Bible Interpretation. Rule of Single Interpretation: Every verse in the Bible has only one single interpretation, although that verse may have multiple applications.
Make sure to use exegesis not eisegesis hermeneutics during your study.
Remember that it is also very important to enter every study session of the Bible prayerfully, as you can't understand the Bible without the Holy Spirit illuminating it for you.
Hopefully this is a good explanation of how to interpret the Bible correctly.
See http://www.TheTorchbearerSeries.com for full details and more information on a large variety of topics. Or see the third lecture video containing this content and more: https://www.youtube.com/watch?v=NrgOIx83G5I&list=PL0qwkdBdTcQ9r4QG2XyrqCSDo9l9b0t3Z&index=4