The NIV is a great translation - which is why we use it for Bible Quizzing - but it is important when studying the Bible to realize that we are NOT reading it in its original writing. Thus, sometimes the translators have to use an English word that perhaps doesn't perfectly capture the original. (For example, imagine trying to explain to a French speaker the meaning of the word "cool" - do you communicate the literal meaning of being cold, the slang meaning of being trendy, or the informal meaning of being unemotional?) So, it is useful sometimes to be able to compare different translations as you study scripture, to see how different translators handled the same verse. But how do you gain access to lots of translations without going broke?
Consider the online parallel bible which gives you access to over 40 translations plus dictionaries and commentaries. It is a great FREE resource for any student.