I agree with you, blogs are really good for making good money as blogs are given higher ranking in search engines, most of the users are searching for blogs for getting quality information so there is good money as well.
For earning money, you can use Adsense and other affiliate programs as well, I would say if you are using Adsense then make sure that you have a quality blog first so that you won't be banned.
If you have a more specific niche, you might consider soliciting local businesses to advertise on your blog. Generally, this method is utilized by more seasoned bloggers because local businesses are more interested in spending money on more established online publications. By keeping your content fresh and relevant, you can create a sizeable portfolio that will eventually convince businesses to advertise on your blog.