There are tons of ways to study the Bible. I recommend finding a strategy, use it for a time, and then change to a new strategy when the current one gets stale.
I did the inductive method for a long time. It is great for picking up themes in the Bible. I have also done the ‘Bible in a Year’ method, which is good for reading long passages in context.
Currently, I’m reading short passages with a detailed commentary. I’m using the ‘New American Commentary,’ but I don’t necessarily think it’s the best one out there. There are free commentaries on the web. I recommend Crosswalk.com for more information on that.
Commentaries are great for finding treasures in Scripture. Linking themes together. Exploring Greek and Hebrew words and phrases. But you have to remember, the commentator is a human, and therefore fallible. Don’t take every commentator as gospel truth. Question what they say. Explore for yourself. Read more than one commentary.
This method is slow. You don’t cover a lot of ground. But it’s deep. Deeper than surface level.
I take a lot of notes. Too many. But it slows me down enough to really think about what I’m reading. I’m sure I’ll get impatient with that, and change up my methodology, but it’s working for me now.
The Bible is the best self-help book going. One of the purposes for Scripture is to teach, instruct, and guide. It doesn’t work if you don’t read it, though.