It is possible to make money through promoting affiliate programs, but you can make buckets more promoting your own products!

Apart from being able to use your own website as a portal for a variety of affiliate programs, it's also possible to promote your own products or services.

Another advantage of having your own website is that you can use your emailing list to continually drive traffic back to your site for repeat sales (back end sales) that's were the real profits are.

In addition to that with your own site you can tailor make it to suit specific niche markets and create your own professional and personal identity.

The only limit on what can be achieved with your own website is your imagination.
An online shop can easily be added to a site that operates 24/7 making money even while you sleep.
It can be used as a business card demonstrating your products and services.

I know there are many people out there that feel it isn't necessary to own your own site, maybe that's true but for a long term secure financial income I personally will stick to having my own site.
Properly set up, a website can be your personal 24hr service staff, for free!
It can greet customers, provide information, make bookings and take orders, give solutions to customer problems instantly, and much, much, more!

As you'll see from the signature below I'm studying internet business, I look forward to learning more and posting more articles as my experience grows.