Hi, Dawn!
I don't know how many days you are visiting Disney, but I am hoping you are planning for at least 4 full days. I would suggest getting 4 day Magic My Way base tickets, and plan to spend 1 full day in each park. Adding the Park Hopper is an option if you think you might enjoy splitting your days between parks. Park Hopping does take time, so only add this option if you have a lot of days for the parks, and can spare the time driving between parks. The up-side of getting a hopper ticket is if you get to a park, and it super crowded, you can head to another park without a problem.
Check the page
HERE that lists the ticket options, and what it would cost to add on the park hopper option to see if it fits your budget. Only add this option on if you think you will use it, as it does add to the cost of the ticket.
Parking is currently $12 a day (subject to change.) You only pay for parking once a day, so you can leave and return (or park at a different theme park if you are hopping) without paying again, just keep your receipt.
Enjoy your first trip to Disney! I hope you and your kids have a great time!