If you don't have one, I beg you to invest in one -- $10 at Wal-Mart for crying out loud. We make homemade bread every day now, and when it's sliced with an electric knife it tastes 100 times better and there are never leftover pieces drying out overnight.
I dare you to try it and tell me it doesn't make a difference. Your slices will be light and airy, not dense and smooshed like homemade bread can get when you cut it.
And while I'm at it, I might as well post our recipe for bread.
Potato Bread (small loaf)
3/4 cup of water
1 Tbsp butter
1 tsp salt
2 cups flour
2 tsp sugar
1/4 cup potato flakes1 1/4 tsp yeast
Mix and let rise for about an hour, kneading once or twice throughout. Put it in a well greased bread pan (and let rise a little more if you think it needs it) then bake at 350 degrees for 20 minutes. Immediately out of the oven put loaf on a cooling wrack and spread butter on the top and sides. Let cool, then (this is CRITICALLY important) SLICE IT WITH AN ELECTRIC KNIFE.
You can also just throw it all in the breadmaker under the Basic mix, 1 pound size, light crust. But you still need an electric knife.