We are trying a little different family Bible reading plan this year. This is a read-through the Bible in a year plan. Each weekday you read 2 chapters from OT, 1 chapter from Poetry, and 1 chapter from NT. Weekend it is just 2 chapters of OT each day. We do our family Bible reading at mealtimes so at each meal we do one part of the reading (Breakfast is OT, lunch is Poetry, and dinner is NT). Each family member is also roughly keeping up with the schedule during their own private devotions.
We got this plan from Faith Baptist Bible College and its available from their website as a set of bookmarks (one for each section). You can download or print your own or request that they mail you some bookmarks.
Sarah is reading well enough now that she is able to read and take part in a real Bible. Speaking of Bibles we are using the New Living Translation (NLT) as our family reading Bible. I have been able to get each of the kids a NLT Study Bible used (nearly new) from Amazon.