Are there any tools or books or guidelines out there that I can use to help me and several other friends interpret the Bible? I ask this because I do not want to go and start interpreting the Bible and end up wrong or end up going against Church teaching.
I recommend the use of a Catholic commentary. The Navarre Bible, available through Scepter Publishers, contains the Revised Standard Version – Catholic Edition and the New Vulgate together with extensive commentaries. The commentaries draw on Church documents, writings of Church Fathers and Doctors, and other sources to help explain the meaning of the Scriptures. It is offered in multiple volumes covering all of the New Testament and most of the Old Testament. There is also a condensed single-volume version of the New Testament available through Catholic Answers.
No longer in print, A Catholic Commentary on Holy Scripture is a single volume commentary on the entire Bible. It does not contain Scriptural text but is an excellent supplement to any Catholic Bible. You can often find this title offered used on the internet.