Let me count the ways to monitize
There are lots of ways to monetize your website and many web masters utilize several methods on each site. Here are just a few:
Google Adsense:
Google will place content relevant ads on your site and your adsense ID code is embedded in the ads. When a viewer clicks on an ad, you get revenue. The amount varies, however, some webmaster make a living just from adsense income.
Affiliate products
When you sell affiliate products on your site, you get commission for every product sold. The higher your traffic and the better you promote your site, the more commission can be made.
Advertising
When you have a lot of traffic you can rent space on your site to other vendors. You can get revenue from the rental and also from commission is products are also included in the advertisement that they place.
These are just three of the ways to make money from your site. Have a look at some websites and see if you can find out how they make money.