There are several ways to monetize websites which will allow you to generate revenue. Your niche, target audience, traffic volume and behavior will determine what monetization strategy will best fit your website. So it doesn't matter if you are trying to make your website a profitable business or to cover some overhead expenses, just remember to give each option some time and you will get rewarding results.
WebsiteSetUp.org created an infographic of ways to monetize websites which will allow you to turns yours into a money machine.