Imagine a dedicated server that's partitioned to 4 different parts, and you're set up with 1 of them. Much better than shared hosting, and cheaper than getting an actual dedicated server.
Friend, if your blogger site starts making money then switch off of it as soon as possible. Get yourself cheap hosting at godaddy or somewhere else, install wordpress and convert over your blogspot posts. Blogger has bots that troll the accounts looking for splogs. If your blog is accidently marked as such you will be locked out and lose everything. And yes, than does happen.