Two Apple Watches with Same Apple ID

I recently purchased an Apple Watch and paired it with my iPhone. My husband already had an Apple Watch. My Apple Watch shows his name in my activities. If I change my iPhone to my name, then my name shows in His activities. After some research, it looks like I need to create a separate Apple ID. We do still want to share iCloud, iTunes, etc. I would really like some updated instructions as to how to proceed. Thanks in advance.