I have set up Apple’s family sharing for the four of us at home and it works well, allowing us to freely download purchases made on the AppStore and iTunes for apps, music, films etc.
When it comes to newspapers and magazines it is not entirely clearly how family sharing works. The article linked here is Apple’s support page on the matter and to cancel a subscription, follow this link.
However you don’t get the benefit of family sharing with subscriptions or in-app purchases as I found to my detriment when subscribing to a newspaper recently.
That is not to say, don’t do it, but just be smart…