"All scripture is given by inspiration of God, and is profitable for doctrine, for reproof, for correction, for instruction in righteousness: That the man of God may be perfect, thoroughly furnished unto all good works."
~2 Timothy 3:16-17~KJV~

I felt it was important for you to know something about the different translations and versions of the Bible.  That way you can personally make an informed decision about which one you want to read.  Regardless of what translation or version you prefer to read, the most important thing is that you need to READ THE BIBLE FOR YOURSELF. Preferably, you should use several translations/versions in your studying. Since you probably don't read the languages that the Bible was written in you can use "The Strong's Concordance" and it will help you understand the meaning of the Hebrew and Greek words.  You don't even have to buy them anymore because they are all FREE and online.

I am not endorsing any or all of the translations of the Bible. That is a decision you need to make for yourself. I personally do prefer to memorize Scripture verses in the NIV but what type of translation I read really isn't that important.but listen to God say to you thought his word and appling to your life

NIV~ New International Version ~ "To ensure accuracy and faithfulness, scholars translate not from a previous translation, but directly from the most reliable original Greek, Hebrew or Aramaic texts.I personally like to still memorize Bible Verses in this version.

NAS~ New American Standard ~
"The New American Standard Bible has been produced with the conviction that the words of Scripture, as originally penned in the Hebrew, Aramaic, and Greek, were inspired by God. Since they are the eternal Word of God, the Holy Scriptures speak with fresh power to each generation, to give wisdom that leads to salvation so that men may serve Christ for the glory of God. With this in mind, the Editorial Board has continued to function since publication of the complete Bible in 1971." ~From the Lockman Foundation~
TLB~The Living Bible ~
(paraphrase not a translation) A paraphrased rendition of the King James Version by Kenneth Taylor in 1971. This is not a genuine translation, but is a type of phrase-by-phrase commentary that was originally intended to help the authorís own children understand the scriptures.
The Amplified Bible ( no speakers or microphones) "It attempts to take both word meaning and context into account in order to accurately translate the original text from one language into another. The Amplified Bible does this through the use of explanatory alternate readings and amplifications to assist the reader in understanding what Scripture really says." ~From The Lockman Foundation~
CONTEMPORARY BIBLE TRANSLATIONS - This page shows different versions and translations by taking three verses and comparing them in a table form.

Concordance: A concordance is an alphabetical index of the words found in one or more versions of the Bible, a text-finder that enables the reader to locate a particular verse by looking up a key word in it. ~From Nelson's Quick Reference Bible Concordance~
Topical Index: A topical Bible lists references to ideas and themes, regardless of whether the actual words are mentioned. A topical Bible will give references in the Bible for you to look up regarding the topic, and you can use it with any translation.
Bible Dictionary: A Bible Dictionary is similar to a regular dictionary and defines different words. But it has more information for each entry. If you have questions about a passage you can look up a word or a subject that you are interested in.
Theological Dictionary: A dictionary of theology is similar to a Bible dictionary in that it provides notes on how a word or subject is used in both the Old and New Testaments. In addition to that information, a theological dictionary also has comments on how the topic has been viewed by the church down through the years. The topics are listed in alphabetical order.
Bible Commentary: A Bible commentary is a book written by an author about the different books in the Bible. It explains different passages but does have the doctrinal beliefs of the author. Never just read a commentary. You need to read the scriptures for yourselves.
Bible Handbook: A Bible Handbook is similar to a Bible dictionary. The main difference is that a Bible dictionary has short articles arranged alphabetically, while a Bible handbook provides a brief running commentary of each of the books of the Bible. It contains maps, historical backgrounds, archaeological background, tables of weights and measures, lists of kings and genealogies and much more information.
Bible Encyclopedia: Bible encyclopedias are multi volume sets of articles about people, places, and subjects arranged in alphabetical order. It is similar to a Bible Dictionary but with much more information. They contain historical background information and sometimes there is commentary information also.