2 phones on the same appleid

My son and I both just bought the iphone 5c and set them both up on the same appleid as we have always done with ipad/ipods in the past. 
When I update my payment, it automatically adds this to his phone.
Is there a way to set up "users" under one appleid and have separate payment methods?
I thought I could fix this issue by setting him up on his own id, but then the apps on his phone that were purchased through my id would not work, so that isn't really an option.

So but no. The payment method is associated with one Apple iD.

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