Even without paying for studio time, the amount of time you have to put into gigging in order to make a living is inhuman. We usually made about $200-300 each per gig (a gig often lasting an entire weekend) which is actually quite generous compared to many other bands. The problem is that out here in the middle of nowhere, there's nowhere to gig without driving hundreds of miles in a beat up van that gets 8mpg. We actually lost money on more occassion than one, thanks to the ridiculous price of gas, and not to mention lodging and food. Some places were kind enough to supply us with at least a place to sleep and some grub, but then those places often wouldn't pay us. The only time we'd ever make decent money is playing festivals. Socorrofest would give us $250 each, free food and alcohols, reimburse us for gas, and our bassist didn't live too far away so we could crash at his place if needed. Unfortunately, Socorrofest only comes once a year.
My bandmates and I have given up on trying to make a living like that. Now we just occassionally get together and rock out, and record shit in our DIY studio at NMT.