You are not a bad mom at all. You just need to figure out what is important. If a schedule is important (which I personally feel is huge to have one) then do it. It doesn't have to be rigid, but you shouldn't let kids sleep until they wake up really, I can say 9:30pm is late for a 2 and 4 year old. When do you and your husband have anytime together??? Also your 4 year old will be going to school before too long and it will help her to be used to routine and going to bed earlier.
Try starting by getting them to bed no later then 8:00, then they will probably be up aroun 7am. Have breakfast, get them dressed and have some play time. I usually throw a load of laundry in and get my daughter to school. I come back clean up the kitchen while my son plays with one of the boys I babysit, then just get some stuff done around here. About 10:00 they want a snack, then around noon I make lunch, get my son to school. Then I get some downtime and then it is time to get everyone from school.
It isn't rigid, it isn't the same way every day, but meals, sleep and the preparation for school is the same every day. It runs things smoother and everyone is a lot more secure and happy. You can create whatever type schedule works for you.
Just as a pretend.
Kids out of bed 7am.
Get breakfast, wake up
8am get everyone dressed
8:30-9:00 let the girls play while you clean up
9:00, go to the park, library, playgroups, (whatever you do)
10:30 snack
whatever you need to do to fill this space, errands, cleaning up the house, playing with the girls
noon-lunch
after lunch, naps (if they still take them) naps are perfect down time for moms to relax, clean up , check email, read or nap yourself
2pm get everyone up, give snacks and have some fun play time
and figure out dinner ideas.
5pm dinner
6:30 baths and jammies,
no later the 8pm bedtime
then you and your hubby have a relaxing loving evening together!!!!