The Tool
There's really not much to be said for the calendar, except that there must be One Calendar to Rule Them All. You can use Google, or Outlook, or iCal or a paper solution, but you should only be keeping one master calendar. Otherwise, you invite chaos.
My Implementation
I personally recommend a web-based calendar such as Google's solution, because it allows for cross-device sharing and integration with great services like Doodle . If you are using iOS, I suggest Fantastical , which integrates with the iOS calendar and is the smoothest App I've found so far. On MacOS, I use Fantastical. I haven't used paper in a long time, but when I did, I loved Franklin-Covey . Their binders and fillers kept it interesting.