I am 22, just married, and our daughter is 2 1/2. We have a house and basically are living like we are in our 30s. Sometimes we forget that we are still really young. We are very family oriented.
I just started my site a few months back, and affiliate marketing about 2 months. So far I have made about $200 in affiliate marketing. Not much, but it is a decent start. My advice is to keep reading,learning, and trying hard. Ensure you don't just blow all your money because it is really easy to click and add more money. You just don't want to feel it later. Starting off, you are lucky if you stay breaking even, and even luckier if you make money. You have to start your campaign, blow money on wasted click to get the right keyword list. Then scale the campaign and profit, if it is even able to be profited. Some campaigns fail for you no matter what. Just be careful with how much you are blowing and remember you aren't a super affiliate able to blow thousands on a test campaign. As long as you learn as you are going, and learn from your mistakes, you should be alright.
That said, track all your damn campaigns and converting keywords. It will be very hard doing this blind. Also make sure you leave time for your family. If you spend 100% of your spare time on the computer, it could stress your family life. Your kids need you as well.
I balance a hell of a full time job. It is very stressful and physical. It rotates between days and nights, and is 12 hour shifts. I work like 4 days on nights, have 2 days off, work 3 days of days, 3 days off, 3 days on nights, 2 days off, then work 4 days of days. I ensure that I spend time with my daughter as she is at a very crucial stage in her life. Also my wife works 2nd shift, 3-11:30. After she gets off work I usually stay up a little with her and watch tv and have a snack with her. I also ensure to spend some time with her before she goes to work.
Just don't ignore your family. The extra money is not worth it if you don't have someone to share it with. I would rather be dirt poor than filthy rich and alone.
My long term goal is for the both of us to not have to work, and have everything paid for. My goal right now is to see my first $100 day, and then make it consistant. If I could do about $1000 a week constant, I could pay off our Jeep payment and my student loans. Then keep doing that and save it up. Eventually pay off our house. I am not looking to make millions, but a nice extra income would be a blessing.