All those questions are great and I believe that blogging is a great way to make money online, (if you have a passion for something).
You can be a great blogger if your life is interesting and you give value or something special that makes folks want to follow your blog and stay in tuned with your life. I have also seen people use blogging as a affiliate platform(where again they provide value), but will also include a affiliate link to a product and earn a commission, which is great because as your blog grow you will earn money from that and you will earn money as a affiliate.
Most people think starting a blog is difficult and expensive, when the truth is... It's not. Just plan out you structure of what you want to focus your blog on and start for FREE using Blogger.com. It's just that simple.
I hope this information helps all who chose to go the blogging route. One Love and Stay Safe.