Blogging started out as a fad. People come online, set up quick websites, and then start posting journal entries. It has taken some time to gain respect. Blogs that deal with news and politics have long been the brunt of jokes from the so-called “official media”. But, most of them will admit they visit blogs regularly because blogs have become not only lightning-fast sources of news, but also a great gauge of public opinion.
But, as blogging moves from fad to standard, the question is: can money be made doing it? The answer is
(1) Advertising

Another avenue of advertising is the sponsorship. Depending on the subject of your blog, you may be an attractive option to businesses looking to gain some exposure for their product. Typically, sites that would do well with sponsorships are ones which are niche sites. A blog which is general, personal or raw entertainment might not be attractive to potential sponsors. But, if your blog is specific such as Web Development, digital cameras, PC gaming, or other industries which have companies which do internet advertising, you could pick up sponsors.
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