If you are looking for an easy and fun way to memorize scripture with your young child, I highly recommend Susan Hunt's My ABC Bible Verse. Each letter of the alphabet is accompanied by a bible verse and devotional. The lessons do an excellent job of teaching grace and gospel truth even in verses that could be easily distorted into works righteousness. My only annoyance with it is that the kids are always filled with God's Holy Spirit to do what's right in Every. Single. Situation. So glad you are already so sanctified Billy and Missy.
I typed up all the bible verses on a master list for us to review each day so I don't have to pull out the book each time to review the past verses. It is available via Google docs to download at the link below.
What resources are you using with your children to hide God's word in their hearts?
My ABC Bible Verse master list