First: you should have posted earlier... every day you wait you are losing precious dollars.
I will just give you some simple advice that has worked for me... figure out what your site is really about and why people are visiting, what they are looking for and how often do they return...
If your site is highly focused on a particular product or service, I say do the affiliate thing. When promoting affiliate programs just remember that your job is NOT to sell the product, your job is to simply increase curiosity in the product, the merchant site should do the selling... all you want to do is get the visitor to click on ads.
If you have a general topic site or more geared at general information... focus more on adsense and general advertising. Follow the same path, build curiosity, get the click. If you give away too much information or satisfy the visitor's curiosity, there is no need to click the ad, that means lost profit.
Make simple, easy to navigate sites that load fast, follow this very simple advice and you'll probably see an increase in earnings.
Hope it helped, it's all I can do without knowing your site topic.