re: You're all sleeping but I've made a huge mistake - please help

Update -

We moved back to Birmingham and my wife was able to secure employment as a teacher, but I wasn't. We're now living with my parents, and I'm sending out resumes and picking up guitar students. I've already joined a band (jazz trio) that should bring in about $400/month immediately and should grow as we advertise.

I had no idea this decision would be this hard especially considering how things worked out. I thought I'd get a job and my wife would take care of things at home. Instead, she's got the full time job - luckily at a very good school - and I'm figuring things out at home. Leaving such a prestigious institution has also put me in a state of depression I never knew possible. But I'll get through it.

Because simply having the weight of graduate school off my shoulders has allowed me to allocate some available funds to paying off debt. We'll escape this experience with $3k in debt and that includes everything - car payments, student loans, credit cards, etc. Living with my folks will help us pay that off in 2 months (or less if I start making an income) and put away some money depending on how long we can stand sharing a house with my parents.

When my rental home sells, I'm expecting to have $8000 from the sale after taxes and fees. My security deposit from Auburn is coming back in full, and I have a $1500 payment coming in from a job I worked back in July.

Our budget will now say "$10k in savings and growing" going forward instead of "debt and building," and if I can have success this year in getting work, my wife will still get to have one more year working part time with our son and maybe even stay home with our next kid for the first year using FMLA.

I'm hoping this was the right decision. I feel horribly embarrassed going from future college professor to "please someone anyone give me a job," but the security we'll have very soon should help alleviate those worries.