CPM (cost per mile/cost per thousand impressions) is a good way to make money with your blog. CPM Sites pays you according to the number of ad impressions. If the ads appear on your blog and visitors not to click on those ads, you still get paid by CPM site.
You will get paid a lot if you have a blog with high traffic. Because CPM advertising will pays you $1 - $3 for each 1000 impressions. For beginners, I recommend trying on Technorati Media.
Technorati Media will give you a text ads, video or image ads that contain text ads inside. Here, you can payout with a minimum payout of $20, very small and I think within a month you can make $20. You can payout via PayPal, account credit, cheque or wired transferred.