OP, I strongly suggest reading the article below that is in the current 2+2 Magazine.
http://www.twoplustwo.com/magazine/i...squid-face.php
As for the rest, step one is to figure out what your monthly nut really will be. The best way to do it is to take a years bank account statements and pay stubs, then calculate how much money goes out for those 12 months. Then allocate that money to see where it goes. A lot of people do the opposite and just make a simplistic budget. They tend to forget things like insurance (especially medical which you'll be 100% on the hook for), traveling to see friends/family, holiday spending), etc.
This will be your nut that you have to make every month. Sure you can trim some things but the majority of your expenses will be essential expenses. Make sure you think through the implications of those cuts. Sure you can cut eating out, but is that realistic when your habit is to grab something when you're tired or you want to treat yourself?
The next is to have a realistic view of what you can make. Squid Face in the article is a long time poster in LLSNL so I'm confident that when he gives you a number, it is essentially accurate. He's also rock solid in his strategy, so I'd put him at the top of the food chain, maximizing what he can win at 2/5. He makes about $50/hr. At 1/2 then, I'd put the very best players out there making $20/hr when working 2000 hours/year. You can make more per hour if you only play prime time on weekends, but your winrate is going to be much lower Wednesday than Saturday.
I think you'll find that even if you are a crusher at 1/2, you won't make enough to cover your expenses. I don't know anyone who does consistently. Based on your questions, I don't think you're a crusher either. So you're going to earn even less.
Therefore, you're going to need to move to 2/5 pretty quickly. Which means you need to play where 2/5 games are available to have even any chance at success.
Good luck. You're going to need a lot of it.