How to get library onto new phone

I just got my IPhone yesterday and when I set it up on my computer at home I noticed that there was another level of music, movies, and TV shows. It looks like it's created a new library or something for my IPhone. How can I get my existing library onto the phone? Also, will I be able to buy from my wish list, which I have created on the computer on both the computer and the phone? If I'm not able to do that now, how can I set this up? 

I tried what you suggested, but didn't want to do that for all 593 songs in my library. Now I have two other questions, one relating to music management and one not.
1. All my music transfered, but none of my playlists did. How do I get all my playlists to transfer as well?
2. When I set up my phone I think it set up a new account or something. When I tried to purchase an app, it said that I had to verify my payment method, but I've never had to do that before. I have some credit on the account that I've been using, how do I get that to transfer over so I can purchase from both devices? Also, relating to this, I created a wish list in ITunes on the computer. How do I access this from the phone? 

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