When doing your figures, did you think about Uncle Sam’s cut? Usually having two incomes puts people into the higher bracket which means more money out of your hubby’s check too! Other items usually forgotten in calculations is extra clothing (laundering and extra amounts for everyone because of the time between laundering), gasoline to drive, extra convience foods for those days neither wants to cook this includes extra take out too(even McDonalds and pizza get expensive after awhile).
You are feeling very conflicted because you really want to be at home. You can find something to bring in a little more money if you really want to. Pray and God will lead you to it!
The home daycare thing is great because it also gives your baby someone to play with. No-one will love and care for your child better than you! And there are always somone looking for other child care. My sister told me her neighbor just hired a nanny to watch her child while she works, she is paying $30,000 cash. Many people would preffer the individualness of a home centered childcare, and it does not have to be too stressing if it is just one or two children. Plus it will teach you very quickly how to handle two or more children when out of the home.
As for the selling, I know what you mean. Cosmetics? Being a military wife, I have had my share of the party circuit. There is Pampered Chef (food and cooking stuff), Party Lite Candles, Tupperware, Longaberger baskets (way too expensive! I did this to distract me from my miscarry. I later sold off my stock on ebay for $2000+), Discovery Toys (great educational toys especially for birth to 7 years old), Usbourne Books (love these!), Creative Memories (scrap booking) and there is even lingere (it is pretty tacky though!). The problem with the selling party circut is making sure you are making more than what you are putting into it. Atleast with the Discovery Toys or the Usbourne books you will be needing them for your own child, and with Pampered chef, you have to eat. The bonus is the own business issue, so you can plan around your own schedule.
Remember even Ms. Fields started in her own kitchen. There are many craft fair places you can sell your wares. Maybe you are great at making gift baskets, sewing, or canning things. You can sell via the web, ebay, craft fairs, word of mouth, etc. I had a girl in one of my neighborhoods who would sew personalised baby blankets and make valances, since we are a communter family, people where always moving into the neighborhood and nneding these things.
My GF works in a small beauty salon two days a week just to answer phones and make appointments. You could clean houses or offices. Maybe you could get a job with a book company to review books? You could tutor children in school if you have a specialty in some area, even HSers if you find a local group and get the word out. My neighbor teaches piano out of her living room and has the young lady down the street keep an eye on her children for the time the students are there.
Good Luck and Ask God for guidance!