Blogging is a lucrative job if worked with patience, persevance and posting value added contents keeping the theme of your blog into consideration. I have seen a blogger who made $14000 in just 8 months of blogging and many bloggers who have made >=$2000.
If you have a good google page rank, posting with new contents regularly, is atleast 3 months old. then its the time to monetize your blog. I have unveiled all the paid to post programs I am affiliated with and my earnings and investments.