How much of the New Testament do we really need to be saved and has this been condensed as in the red letter versions of the Bible showing Jesus' words?

Answer 1

You don't need to read The Bible to be saved, you don't need to read it at all. Jesus just says that it is good for us, fruit for the soul. To be saved all you need to do is confess with your mouth that Jesus Christ is Lord, and believe with your heart that he died and rose from the dead. That's it your saved. It's then your choice if you want to please Jesus by going to church and reading the bible. Just as long as you have confessed and believe, your saved and Jesus is happy and loves you just the same.

Answer 2

For John truly baptized with water; but ye shall be baptized with the Holy Ghost not many days hence. Acts 1:5

Jesus prophetically referred to being saved as being baptized with holy spirit. For a person to be saved he must confess Jesus Christ as Lord of his life and believe in his heart that God raised Christ from the dead.

That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved. Romans 10:9

Besides being saved, it's God's desire that we gain a thorough knowledge of the truth of His Word.

Who will have all men to be saved, and to come unto the knowledge of the truth. I Timothy 2:4