I think that should be plenty of money if you are AI, although it depends on the trips as thinks like Cairo and Luxor are expensive, although I wouldn't do those from Sharm with your children anyway as its too much travelling.
You are probably better off taking your money in Sterling and changing it when you are there as you seem to get a better rate. Trips will be expensive especially through your TO, but some people prefer the security of using their TO rather than a local company. If you do book your trips with your holiday rep you can put them on a card if you ahve one which then leaves you cash for eating out and tips.
As you are going for 2 weeks I would wait a few days and see what people round the pool have to say about trips, you might be able to get some recommendations and work out what best suits you.
One of the other things to watch out for if you do eat out, is the cost of wine and branded alcohol as obviously most is imported, so expensive.
Doe