Found an interesting article here, written by Cooper P. Abrams, III.
http://www.bible-truth.org/Principles.htm In it, he describes 10 principles for interpreting Bible scripture:
- FOLLOW THE CUSTOMARY USAGES OF THE LANGUAGE
- COMMIT NO HISTORICAL OR CULTURAL BLUNDERS
- MAKE CHRIST CENTRAL IN ALL INTERPRETATIONS
- BE CONSCIOUS OF CONTEXT
- INTERPRET BY THE ANALOGY OF THE FAITH
- RECOGNIZE THE PROGRESS OF REVELATION
- GRANT ONE INTERPRETATION TO EACH PASSAGE
- CHOOSE THE SIMPLEST ALTERNATIVE
- NEVER INVENT EXPLANATIONS TO SILENT AREAS OF SCRIPTURE
- NEVER THEORIZE TO ACCOMMODATE MAN'S VIEWS OR MODERN SCIENCE
- NEVER BASE A DOCTRINE ON ONE PASSAGE OF SCRIPTURE
CONCLUDING STATEMENT: In trying to determine what the Scriptures mean we must have a method or standard of interpretation as a guide. The literal method stands alone as the only real Biblical method. Why? Because the best interpreter is God Himself, and by letting Scripture interpret Scripture we are letting God, the Author of the Bible tell us what He means by what He said.
A rather long article, if you have some time and are really searching the scriptures for answers, you'd do well to give this one a reading.