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Google Adsense is probably one of the easiest ways to make money from your website. It is easy to set up and implement on your site with very little difficulty. To explain Adsense I will explain Adwords first which will make it a lot easier to figure out.
The Adwords program is a Pay per click program (PPC) that allows website owners to pay for traffic to come to their sites. The ads that you are running show up on Google search results as "featured listings" on the right hand side of result pages. The other place where the ads show are on other related websites to yours, called "content pages". The cost for placing your ads is determined on the popularity of the keywords you choose. If there is you, and one other person, and they are willing to pay more for that keyword then you are, then they will get a higher position in the results pages as well as not be on the more popular content pages. Every keyword is different so the key is when you are setting up a campaign is to pick very exact and refined keywords for example instead of using "cat" you would use "Mexican short haired cat". This way there is less competition for the keywords.
Now to explain Adsense. Remember above where I talked about those content pages.....? well thats that Adsense program. Anyone with a website can sign up and put ad blocks on their site.... why you say?.... well everytime someone clicks one of those links you get paid a percentage of the ad costs.
Ok...... lets slow down..... Someone pays Google to have there ad on the results page and related pages to theirs and your site is the same topic.. so Google will give to a piece of the pie.
The ads that are shown on the Adsense ad blocks are geared towards the content of each individual page so if a part of your site is about cats then the ads will be about cats if another part is about dogs the ads change to dogs. You can help Google figure out what your site is about by adding keywords into your site meta tags.

So heres how you put the two together....

You need to start with a topic in your head... and maybe do a little research there are sites like Rumler that will give you a list of the top paying Adsense keywords. It just so happens that anything to do with credit or bad credit I should say have high payouts when someone clicks an ad on your site. Were not going to worry about content right now.
Now create a site with multiple headings, in the case with credit maybe one with "bad credit loans" one with "payday loans" and another with "consolidation loans". When designing each individual page in the meta tags copy and paste the title of the page over and over in the keyword section so for example in the meta tags of the payday loans section it would say "payday loans" like 10 times. This will gear the ads towards the high payout keywords.
Next will be content. There are sites out there that will give you a scrpit and provide you with dynamic content that changes everyday and will save you a lot of pain. The idea behind this is that you want people to come back to your site so they will click on links!! and you can make money!! Sites like www.yellowbrix.com is an example of a site that can supply the content.
Ok, now for the ads on the page.... DON'T GO CRAZY the more ads on the page doesn't mean more money but a nice leaderbar on the top and a couple blocks down the side is just fine...... I have clued in that the more ads on your page the less money advertisers will pay!!
Now that the site is built you have a few headings up top maybe a nice logo. You have dynamic content and a "few" Adsense blocks on each page we have to go back to Adwords. The key here is to find keywords that are of the same topic as your site but aren't those high paying/high cost keywords.... So direct the phrases of keywords to specific areas... or specific people to keep the cost of your Adwords campaign down.

See where i'm going with this??????

You want to pay less money for people going to your site then what your going to get paid when they click on your ads!! Not everyone will click an ad so keep your max bid down below $.10!! On one of my sites I was earning $.48 per click and I was only paying out $.08..... Thats a $.40 profit.... If you get 10000 clicks that month you will make $400!!! That might not seem like much but as easy as that site was to make... why not make 4 more like it? Then your talking $1600 a month!!

Give it a try and let me know how ya make out!