If you want to monetize your blog you can use several different strategies including:
* Google Adsense Ads
* Affiliate Programs (such as Amazon, Ebay and MarketLeverage)
* Sell your own Product (such as ebooks, software or a service)
* Donations from readers (via a donate link on your blog)
* Sell your own Ad Space (Banners or Advertiser Blog Posts / Product Reviews)
Its always better to have multiple streams of income in case one of these streams dries up in the future. I would recommend that you implement a combination of the above.