A study Bible that has maps, time lines, concordance and cross-references is really useful. It’s helpful also to gradually build up a collection of reference books, such as a Bible dictionary, concordance, commentaries, etc, etc! There are many, many helpful books available.
Many people find it valuable to record in a notebook what they discover as they read the Bible. It’s a great way to review what you have been learning.
Meditating on the Bible is quite different from the common idea of 'meditation' that is often used these days. It is, rather, is a combination of reviewing, repeating, reflecting, thinking about, and applying God's word to your life. There are many helps to meditate on God’s word, but a particularly helpful approach is:
Psalm 119:11 says "I have hidden your word in my heart that I might not sin against you." Memorization is a great habit to get into to make God’s word part of your life.
Reading through the Bible as a whole is a great experience. Some people appreciate a flexible approach – perhaps reading a couple of chapters from the Old Testament and one from the New Testament each day; others prefer to simply read through the Bible from start to finish. By reading 3 to 4 chapters a day, the Bible can be read in a year. Some people prefer to take longer, and so read less at a time. An alternative is to get hold of the Bible on CD and listen to it being read to you.
Look up details of the author, date and circumstances of writing. Read the book carefully, and then write an outline that shows the flow of the main points that are made in each chapter. This way you’ll get a 'skeleton' of what is being taught. Trace through particular themes (for example in John’s gospel, read through the book and underline references to 'life', 'light' or 'truth'.)
The following is a helpful approach if you want to study a passage in greater depth:
e.g. Daniel, Mary
(With thanks to Testwood Baptist Church, from which this article has been largely taken)