Hello, Katrina,
Please refer to a pdf I placed on Wyzant's resources page.
https://www.wyzant.com/resources/files/729420/balancing_chemical_equations
It will help you through this problem.
As the question suggests, start by assigning a coefficient of "1" for the most complex molecule. USE A PENCIL. Balancing equations often requires making many changes until you get a valid answer. I'd start with the Fe2O3. Once you assigned a 1 to it, identify the number of atoms it requires:
Fe 2
O 3
Then add coefficients to the reactant side to get those numbers of atoms. You need 2 Fe atoms, so put a "2" in front of the FeO. That gives us the 2 Fe atoms we need, but only 2 of the three O atoms. So add a "1" in front of the oxygen to add O atoms. The problem with oxygen is that it only comes in diatomic form. So while we add just one molecule of O2, we're adding two O atoms.
That leave one too many O atoms. The next step is to erase [You used a pencil, correct?] the 1 in front of the Fe2O3 and replace it with a "2." Now we need 4 Fe atoms, so go back and change the coefficient for FeO. Keep at this until you have the same number and kinds of atoms on both sides. It won't take you long from this point to find a solution.
Balancing equations is similar to riding a bike. Once you've had a little practice, it becomes more obvious, and even fun sometimes. But you will encounter a pothole every once in a while. Some equations can be very difficult.
Bob