What preconceptions do you come with to Bible study? These will have a big effect on your interpretations.
Perhaps this is best seen in the way you view miracles.
Do you believe that the miracles in the bible are actual events that are pretty faithfully recorded by the witnesses of the events? This would be the traditional approach (and I suppose mine). I certainly believe God to be capable of miracles and have no problem believing they happened.
If, however, you believe that miracles are impossible and then you read the bible miracles and think they must be misunderstandings of natural events. This will bring you to a particular way of viewing the bible miracles.
Or maybe you think that they are not even events but just myths designed to teach a lesson.
These are preconceptions, you may have others about language, inspiration, the Holy Spirit, revelation, etc. It is important you know what your preconceptions are so that it is possible to tell others where you are with this.
When Christians get together for bible study if they have very different preconceptions then it can lead to a great deal of confusion and maybe some heated disagreement. Perhaps in these circumstances it is better to take a step back and talk about your preconceptions and why they matter to you before trying to study together.
I suppose one important question that I am not sure I know the answer to is: are there preconceptions that are so far apart that they stop us from studying the bible together? At one time I would have said no but I am starting to wonder if this is in fact true.