Changing Apple ID's on son's ipod
I got my son an iPod Touch 5 for Christmas and used my apple id to set it up. When doing so, he got access to all of my contacts and if he does anything to them, it changes on my iPad and iPhone. I think it would be best to set him up with his own account now while it should still be easy to fix but he has purchased several games under my account that I don't want him to have to repurchase if he was to get his own. I also want him to have access to my itunes library. How can I fix this?
Just for extra info, I use a Windows 7 PC.
iPod touch, iOS 7.0.4