Scripture/the Bible is God's word giving us identity (Scot McKnight)- of God, of ourselves, of the world. It is the metanarrative/Story of God. It gives true meaning and perspective to the stories of our lives. Other stories in the world compare favorably or unfavorably with the Story of God in Scripture. And they're understood within that Story.
Scripture speaks with the authority of God to us. God is authoritative through it (N.T. Wright). The Church's interpretation is not on an equal par with Scripture. But the Spirit is at work to help the Church interpret God's word into our lives.
We should read Scripture regularly. And we should consider it prayerfully. Our goal is that God would transform and form us through it, not just inform us. This needs to be done alone and together with God's people.
Scripture may seem mundane at times. But then we need to step back and take a look at the entire Story, and how what we're reading fits in that Story. And how our own story fits in that Story. The Spirit is there in our private times, as well as when we're together as the community of Jesus, to help us in all of this. To help us find our place and shape our role in God's Story.