I use shared hosting for most of my clients, sites. Just cuz I am lazy, and I dont want to have the responsibility to host them sites myself. I could earn some cash though, if I'd pack all my clients sites on my own VPS....
Shared server if the site is mainly 'a holding page' with very little traffic; a VPS (or even a dedicated) server if you're serious about business or engaged in delivering professional services with higher than usual traffic.
VPS for sure as over there you are the boss and no one else can mess around with your stuff, without your permission (or poor security policy) at least.
Plus, it's a great chance to get your hands dirty with the linux commands over ssh even the hard way and start learning useful things.