I'd offer a word of warning to the OP about taking a day job - make sure it is something casual enough that it will not drain your energy. All human service jobs take their toll, especially if you tend to be more of an introvert. If you have technical skills, or can work some place that isn't in human services, that would be best. I say this as someone who got a degree in Gender Studies when music didn't work out, and thought I'd like to help people to make money - the real world has sucked much of that desire away.
In the past 2 years I have been working full time and my playing has gradually been getting less attention. At the end of an 8-5 shift, if it is a miserable job, you will probably not want to do much real practicing, I know I haven't. The desire is still there but the energy just isn't. I did not have that problem when I worked this same job part time....so you should be fine - casual/leaving it at work is key.
One other thing I would suggest is to continue to live modestly, do not get used to making more money if you end up doing so - this will make it hard for you to keep your job "just a job" and can quickly trap you into thinking more about money than music. Throw extra money in savings. I signed a year lease in May on a place that is very nice, but I have to have my current salary to maintain - this gives me less freedom to leave my job, and I can't save as much. For me going from part-time to full time was a very slippery slope, if you are working on an album, you probably won't have this problem - your priorities are straight.
Last thing - music is important, but be sure you always have time for friends, family and the people you love. If you are currently single, or in a more casual relationship the reality of the situation is that when things get more serious, you will have to change your routine. You will likely also want to, so that you can do other stimulating things, and have a meaningful connection with others. Balancing work with music is hard, but adding relationships - even family can make it even more difficult. Shed a lot when you're single, and be prepared to make shorter practice sessions work if things change for you.
For all you shedding out there, to end on a positive note - I'm truly delighted by Mike Outram's site: