I am a big believer that studying the scriptures is like eating a peanut butter cup. There is no wrong way. With one caveat that the chocolate company did not have, as long as you use the spirit. Actually other ways of studying the scriptures can help you see the gospel in way that might not be possible from the Careful Study Method alone. In this post I will include two other methods. I am planning on more to come.
One method is the Quick Read. When I was on a mission for our Lord and Savior, I had several members talk to me about a challenge their bishop had given them to read the Book of Mormon in 30 days or less. Why would someone do this and what could be gained from reading the Book of Mormon in such an abbreviated fashion. I had a man explain it to me once like this. If you closely study the scriptures, it's like you are studying a tree and you go up next to the tree and grab a leaf and study the veins, or intensely study the bark or the root structure. It can teach you all lot about the tree and how it works but you never can get a true appreciation for the beauty of the tree. For that you have to step back a distance from the tree and then take a good look. Then you can see the whole tree and really get an appreciation for it. That is the quick read. It allows you to see the Book of Mormon as a whole and allows you to appreciate it in a way that just a careful study cannot afford you.
The other is a method that was recommended by our mission President, and I think it may have come from President Hinckley originally. The Underline Method. For this method you get a brand new cheap copy of The Book of Mormon. Then you read the whole thing straight through underlining every time it mentions Jesus by name in red ink. This includes other names for the Savior, like Savior. At the end go back and see how much red is throughout The Book of Mormon. It can give you a whole new perspective of the mission of The Book of Mormon, and hopefully, it will impact your life.