Hi Daniel,
Do you know what code is being throw for the check engine light to come on? It sounds like you have a misfire (which is most likely why the light is on).
A misfire can be from a whole host of different problems, but if you say that you changed the spark plugs and the problem got better, I would recommend doing a full tune up. The plugs are just one part of the ignition system. You would still have to change the wires, the distributor cap, and the rotor.
A timing belt is a fairly complex job and would cost much more than a simple tune up. I suggest first finding out why the light is on before going much further.
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Toyota Corolla 1994 problems?
Linear Mode
