The only time adsense is effective is if your blog is VERY focused on one specific topic. Google analyzes the words on your site to decide which ads to place, so if you're talking about real estate, ice cream, insurance, gardening, hiking, airplanes and childbirth, your ads will likely be completely irrelevant, and therefore not profitable. In that case, private ad sales / sponsorship would be the best approach. Good luck acquiring that anytime soon, work first on getting a lot of traffic (subscriptions, giveaways, very high quality content, reader interaction, social networking, build incoming links...)
Another option is affiliate sales.
Whenever you mention a book, link to it on Amazon. Scour clickbank.com and commissionjunction.com for affiliate products to sell.
My most effective made-for-income blog is self-hosted, wordpress and in its first month, it brought in almost $500 between adsense, amazon and clickbank sales. It's currently almost 3 months old and just barely skimmed the $1000 mark for all-time income. I get about 10,000 hits a month, ALL from google.
It can be done.
I have like 25 of them, and the rest make under $10/month.