Inductance measurement featured is missing in many standard multimeters. If you are not designing RF stuff or building power supplies, then you probably don’t need much of inductive components in your projects. But if you do, then you need multimeter with LCR functions or you can build an inductance meter by using few common components and Arduino.
Lfaessler have built pretty neat inductance meter shield for Arduino UNO which is based on Colpitts oscillator. By connecting unknown coil to it oscillator start to oscillate at some frequency which is then measured by Arduino. By applying simple formulas inductance can be calculated since other component values are already known. Shield already comes with LCD where oscillating frequency and calculated inductance is displayed.