Here is what I would do.
First: I would get my little ones to memorize basic Bible verses, (such as, John 3:16; Genesis 1:1; Psalm 119:9 & 11; 1 Corinthians 13:13; 1 Timothy 4:12 and Titus 2:13-14). I would help them understand the basic meaning of each passage.
Next: As they get a little older, I would have them memorize longer passages, popular passages (such as, the Ten Commandments; Joshua 1:5-9; Psalm 1; Psalm 23; Psalm 19; the Beatitudes; Romans 6; 1 Corinthians 13; 1 Corinthians 15:1-4 & 51-58; Galatians 5:13-26; Ephesians 2:1-10).
Then: I would have them review what they learned on a regular basis.
Psalms 119:11
(11) Thy word have I hid in mine heart, that I might not sin against thee.
The Sooner, The Longer...
As I have gotten older, and especially since my West Nile Virus, I find it more difficult to memorize longer passages. This is partly true because I have so many more things on my mind and activities that require more time. I am guessing this is true with most people.
Anyway, my point is, people should get as much Bible memorization done when they are young.
Also, the sooner we memorize something, the longer it will serve us.
Plus, the fact that the more we memorize, the easier it is to memorize.
2 Timothy 3:15-17
(15) And that from a child thou hast known the holy scriptures, which are able to make thee wise unto salvation through faith which is in Christ Jesus.
(16) All scripture is given by inspiration of God, and is profitable for doctrine, for reproof, for correction, for instruction in righteousness:
(17) That the man of God may be perfect, throughly furnished unto all good works.
There Are No Promises...
It is not always age that limits our abilities, so don't think that you have plenty of time. Do not become the victim of the old saying, "Too soon oldt, too late shmardt."
Ephesians 5:16
(16) Redeeming the time, because the days are evil.
Upward And Onward In Jesus,
Pastor David L. Gould