A big question for beginning producers is, “What should I get? Studio Monitors or Headphones?”. I believe that there is not an end-all be-all answer to this question. Ideally, you should have both.
Studio monitors provide a more accurate sound, but headphones don’t have to deal with room acoustics. You should also consider your budget. It is cheaper to get a good pair of studio headphones rather than a good pair or studio monitors. Headphones are also good for producing if you have roommates you don’t want to bother.
To illustrate the differences between studio monitors and headphones, I created a nice info-graphic. Enjoy!
If you plan on buying studio monitors, you might want to check out my list of The Best Studio Monitors Under $500