There are numerous ways you can set up your blog to increase your income. One of the best ways I have found has been through advertisements.
I stumbled across a company and have been using it on some of my blogs. It has been a great advertisement tool for me and I have liked the results so far.
The company is called Etology. Etology allows you, as the publisher, to use different sizes of ads in your site. You can use text ads, banner ads, or both if you choose.
To use Etology you simply sign up for free as a publisher. Pick the type of ads you would like to display on your site, pick your price, and then let the ads work for you.
As you know advertisements can provide little to large amounts of income, depending on your site, the appeal to advertisers, etc.
There are many companies that assist with blog advertisements, however I stuck my neck out there and tried Etology and so far it is working for me.
You can learn more about Etology here