There are two major types of Bibles. Translations are Bibles that go back to the original language and manuscripts to give the most precise reading the scholar(s) has to offer. A paraphrase does not look for a one-to-one correspondence to the original text. It is written in a way that modern readers will understand the spirit of the teaching. Both are useful in different situations. For Bible Study, it can be particularly helpful to have a translation of the Bible. If you looking for a fresh perspective for daily living, a paraphrase might be more helpful. It is also interesting to be able to compare the two readings to discover similarities and differences.