iTunes one account with multiple users I am a mum with 2 children.  I have had an iTunes account for myself and have now attached my kids new iPods to that account as they are too young to have their own accounts/ids.  My question is;  Is there a way to have multiple users under the same account.  

The problem is that unless we write down every single purchase they make, there is no way of knowing which child has spent their allocation of the gift card amounts! Also discovered that there are 'in-app' purchases which may cost 'game money' or real money and sometimes difficult for kids to tell which.  They don't need a password and they don't show on your transaction history!

It would be so much easier if you could set up 1 account - mine, so I can monitor and control what they are buying, but have multiple users so we attach a gift card (or credit card) to each user. That way they know when their own allocation has run out.  Please tell me there is a way to do this.  I am sure lots of families are in the same situation.

I am not particularly savvy in the ways of iTunes and clouds etc so would really appreciate a simple 'non-techie' answer.
Gift cards are tied to iTunes accounts so if you want to let the store keep track of the different gift cards you will at least have to set up individual iTunes accounts for each of them (and yourself). Of course this also means that you have to switch the user in iTunes accordingly each time you want to make a purchase.

Thinking ahead, this approach is somewhat future-proof as well. In a few years your kids will switch to their own computer account with their individual iTunes installation etc. If they already have an individual iTunes account as well they can keep using their apps without having to bother you in case of upgrades etc.