Jabr, some good feedback in here, and I'm not one of the ladies - I'll chime in anyway. Aside from the charts below, the only thing I really want to explain is this:
You can ALWAYS break down a suit to be less formal:
-Business casual: Remove the tie, unbutton the top button.
-Casual: Take off the sport coat and carry it.
Don't be afraid of a suit - I don't own a pair of jeans, and my life is not missing them. You could live by this chart, and do no wrong: