Personally speaking when I start out as Wizard I must have Teleport for mobility, an armor for a buff usually an Arcane armor for damage and Arcane spenditure, Magic weapon for damage boost or Familiar for another damage boost, Glacial Spike Magic Missile for crowd control, Frozen Orb Arcane Orb as the main damage dealer and Black Hole for crowd control and synergy with Frozen Orb. You get Black Hole really late so I just have a bunch of buffs + Glacial Spike and Frozen Orb. I tend to go glass cannon with it early on.
Starting out you should use what you like. Frost Ray with Black Ice is also solid option. The formula to use is that you want one armor, one mobility/evasion skill, one passive damage bonus, one signature spell, one Arcane spender and one support skill (like Black Hole, Blizzard or the Bubble).
Later on you should equip the skills based on items you get. If you get the Channeling Legendary shoulders then switch to a beam skill. If you get the Meteor boots then put Meteor on your skill bar. If you get a bunch of elements stacked up then switch your spender rune to that element type. Starting out you should be dynamic with your skill changes.