I have a site with good traffic and back links.Now, my question is...what ways can I make some better money? I need only legit ways. They don't have to be high paying. I can yield on several small paying simple tasks. I just really need to know of some ways to earn some extra money.
Advertising would be the easiest option.
You could sign up with CPM/CPC ad networks such as Google AdSense, Casale Media, ValueClick Media, Burst Media, or Tribal Fusion, place banners/leaderboards/skyscrapers on your site. You would then be paid either for each time someone views your site (CPM) or for each click on an ad (CPC). The ad networks find the advertisers for you, take payment, rotate/serve/track the ads and take a 20-50% cut of your earnings for doing so.
Another option would be to sign up for affiliate (CPA) networks, find the advertisers and deals you think would appeal toyour users and then promote those deals across your site. You would then be paid for each time a user bought something through your affiliate link or perform some action on an advertiser's site such as completing a survey.
Or you could sell ads directly to advertisers and serve/track the ads yourself using something like OpenX, Google DFP or OIO Publisher. As a basic rule I tend to set direct prices as double what I would otherwise earn through an ad network (so double would be what the advertiser would have paid the ad network before their 50% cut), and then vary the prices by supply/demand. I wrote a short guide on selling ads directly on AdBalance.
You could also sell links on your site but do note that Google frowns on this and some sites have lost their PR from doing so as it can skew search results.
Other ways to earn from your site could be to sell services you could offer, but as to what those services could be is up to you.
I don't know if you know much about Pay-Per-View (PPV) advertisting, but it is cheaper than PPC advertising and you can get more bang for your buck. Two sites where you can get more information are LeadImpact and MediaTraffic.
You can sign up for affiliate and referral programs which are relevant to the topics of your blog / website. This way you would be able to serve the incoming traffic better by serving them with something they would need.
You get decent commissions as payouts on these programs.
Affiliate program is a good choice since u have a website that enjoys good traffic. I have joined Opentip Affiliate Program /snip
Is it worthy? I mean, i donno your traffic figures but i presume that you have more than 500 UV because you consider affiliate your website. Do you have plenty sales?