Ask to Buy
How does this feature work? Both my children are set-up. my impression is that is get a notification when they wanted to buy something. I'm testing it and nothing is happening.
iPod shuffle (4th generation)
See:
https://www.apple.com/icloud/family-sharing/
http://www.apple.com/ios/ios8/family-sharing/
You need too st it up and it is only for devices with iOS 8 (and Yosemite on a Mac)