I geocache all the time with my kids. They love it! My son thinks it is treasure hunting.
I no longer use the GPS. I program it up, and let my son use it. I print out my USGS maps, with UTM grids, mark the cache location and navigate with maps. I just like the practice of map and compass work.
However, I can tell you that once you get close to your cache, the GPS will start bouncing around, telling you to go every which direction. You will find out that the "claimed accuracy" of the units is under ideal conditions, of which you will probably never be in
So, what I always did is get within about 100m of the cache, and let the GPS tell me what it though the bearing to the cache was. I would then shoot that bearing with a compass. I would then walk that bearing, estimating distance, and looking for likely cache locations based on the bearing and distance.
That method worked well for me.
It is a lot of fun, good way to practice navigation, and gives you an excuse to stop around in the woods
B