Welcome to the sport, John! I hope you and your son have many fine times together at the flying field...
Everyone has their own method of handling lines, so there's no universally right or wrong way. Some folks prefer to have larger or wider reels, while the small plastic reels are just fine for others. I try to keep one set of lines with the same handle for each plane I'm currently flying. Reduces swapping, neutral adjustment, etc.
When it's time to fly I set the plane down and walk out the approximate distance with the reel. The handle is already attached to the lines, so I set the handle on the ground. My finger is through the hole in the middle of the reel, and the lines unwind as I walk back to the plane. If I've been practicing I can usually get the lines to completely unroll just at the wingtip. (Yes, I'm easily entertained.) After flying the previous time I will have left one line clip on one leadout, and the other line clip on one line. That let's me know which line goes where.
Next is a paper towel or cloth slipped back up the lines to clean them and remove any twists. Be especially mindful of any kinks which will weaken your lines. Line care will pay off in the long run.
When finished flying, unclip lines at the airplane, put the ends in the reel and wind up using two fingers while walking back to the handle.
Some flyers do their line ritual the other direction -- attach lines to plane, unroll walking to center, attach handle.
Find a method that works for you and try to do it the same each time. There are an amazing number of ways unusual things can happen that might make for a bad flight. Repetition will reduce the chance of something going wrong. I like to keep to a routine for setup, lines, checking up is really up, fueling, starting, checking wind, etc. Nothing special, just my own mental checklist to relax me so I can focus on trying to make each flight worthwhile and fun.
Good luck!
-Jerry Eichten