It's a good idea to improve hand eye coordination as much as possible, which will help you in all kinds of small ways throughout the day and may help you have more fun with your children, too. Basic hand eye coordination is partly genetic, but it's possible to develop and improve upon what you have by practicing the following activities.
Activity #1 - Martial Arts
All martial arts aid in the development of hand eye coordination by their very nature. Martial arts like tae kwon do or karate, which utilize both hands and feet, are very effective. In practicing martial arts, you will develop your balance and flexibility, learn to always be aware of where and how your body is positioned, and therefore improve your hand eye coordination. Martial arts have the added benefit of helping to build a healthy body and mind and teaching you self defense.
If you don't feel that martial arts are for you, you can use Yoga as an alternative. Yoga teaches the same physical control as other martial arts, but is not aggressive in nature and may be much easier for beginners.
Activity #2 - Hacky-Sacking
If you don't have the time or money to spend on martial arts, that's fine - the development of hand eye coordination doesn't have to be expensive! Hacky-sacking helps to develop excellent control of your body and requires only a ball. Special woven hacky sacks can be bought from sporting goods stores and often need to be broken in (it helps to remove a bit of the filler if the sack is especially stiff). If you're having a hard time hacky sacking, don't be discouraged. It does take a lot of practice to hacky sack proficiently, and you can be sure that you're building hand eye coordination every step of the way. It's easier and a lot more fun to hacky sack with other people, too, so you might ask your kids to play with you.
Activity #3 - Sports
Athletes are generally thought of as having good coordination - and that's because they do! You don't have to be a great athlete to get started playing sports, no matter how old you are. The mere act of practicing physical activity will help you to become better at it. Casual leagues for sports like soccer or softball can help you to get in shape and improve your hand eye coordination as well.
Activity #4 - Flash Games
Internet games might not seem like the best use of your time, but you can actually improve your hand eye coordination for free by practicing games like Tetris, Snake, Pacman, et cetera. These games are easy to find online for free. You do need to be careful not to become addicted, however, and this sort of practice isn't as effective as activities which involve heavy physical motion.
There are all kinds of things you can do to help improve your hand eye coordination, and a number of them don't even require any financial investment. Improving your coordination can help you in daily life.