sharing across devices and restrictions for children

hi there - i just bought an ipod for child (i hope this is the right section)

problem - have created a new itunesid for the child (has my same address and lastname). but don't know if i should set his ipod up with my account or his.

there are app's i want the child to have access to from my account - but i certainly don't want all the free ones he is going to download to clog up my itunes account.

hence it would be better to have his own account but just access to download mine?? so do i set it up with his or my account??

i have heard that ios8 is meant to be more family friendly - does anyone have any idea??

The reason i ask here, is because there is so much conflicting info on the net about this whole family sharing thing - one would think if you have the same address, and the age of a child - there shouldn't be a problem...

i thought about asking tech, but apparently i am only allowed 1 - so i want to save that for a real problem 🙂

i also know about the restrictions on the idevice - but i want to let him download anything he wants and clog up his own account 😀(as well as have separate funds).

if; anyone can link a webpage, or offer advice i would really appreciate it - even if i set it up now ready for ios8 to come out.