yes, i have my own self-hosted website and wordpress I am blogging, normally day to day basis. But first, ask yourself whether you are determined and committed yourself.. I am sure you can make money online, you just need passion and patience... coz I am doing the same... but not intentionally seeking money, rather than trying to experience on it.. and sharing. hope that helps
Yeah i think its a great idea. You and your readers will be able to see how your blog has improved. I always like reading stats and things to do with money. Good luck!
content is king but promotion will do everything if money making is ur aim. Niche also matters. blogging is in web2.0 and it needs daily/weekly updates but in site updated news doesn't matter as in blog. U can make money in blogging if u will learn how to write good content, how to market then money will be in ur pocket.