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There are several ways bloggers use to make money blogging:

Affiliate Sales
You can pick a best-selling product from popular affiliate sales site like Clickbank or PayDotCom where sellers list their products and affiliates select products they want to sell.

Direct Advertisers
When you have a fair amount of traffic on your blog, advertisers will be interested to buy advertising banners and text links to place on your blog. You can also charge to write a review for advertisers’ products and services.

Paid Reviews And Text Links
One of the most common money making opportunities for bloggers is by paid blogging. There are many companies that act as a middle man for advertisers and bloggers. They take a commission cut from sales but their service is useful to help bloggers find advertisers who want to buy reviews or text ads.
These companies include LinkWorth and Text-Link-Ads. Blogs have to meet certain requirements such as PageRank before they are accepted.

Contextual/Text Ads
Beside Google AdSense, there are many other companies that provide contextual-relevant text ads which are automatically sent with a code placed
in your blog template. Another text ad company, Bidvertiser lets you pick the advertisers you want for your blog. They are more suitable for beginners because minimum payout is only US$10 compared to US$100 for AdSense which is much harder to reach.