Go to this link:
http://www.bmi-calculator.net/bmr-calculator/
Those numbers will help you figure out your basal metabolic rate...the amount of calories you'd burn if you stayed in bed all day. You will then multiply that number with a number from this chart according to your activity level: To determine your total daily calorie needs, multiply your BMR by the appropriate activity factor, as follows:
1. If you are sedentary (little or no exercise) : Calorie-Calculation = BMR x 1.2
2. If you are lightly active (light exercise/sports 1-3 days/week) : Calorie-Calculation = BMR x 1.375
3. If you are moderatetely active (moderate exercise/sports 3-5 days/week) : Calorie-Calculation = BMR x 1.55
4. If you are very active (hard exercise/sports 6-7 days a week) : Calorie-Calculation = BMR x 1.725
5. If you are extra active (very hard exercise/sports & physical job or 2x training) : Calorie-Calculation = BMR x 1.9
You subtract about 300-500 calories for weight loss. You really don't want to undereat. Speaking from experience, consuming too little calories causes your body to go into starvation mode and it slows the calorie burning down because your body senses that you're deprived of nutrients. It then adapts to such a low number of calories and if you ever go back to eating a large amount of calories a day, you will end up gaining more weight than u started with. This has happened to me before and I really discourage undereating.
ANd Reesie, Good job to you and your hubby for taking the initiative and starting to exercise! It's a good start however if you're wanting to burn fat you should definitely change your routine around every now and then to keep your body guessing. I'd definitely suggest coming up with a weight lifting routine and cardio schedule. Also, keep in mind that there is no such thing as spot reduction. If you lose fat on your thighs and butt it will come off from all over. Good luck to you both

...it's definitely doable.