Practicality Of Living Off Blogging

[SamTeller]

I am a twenty year old student who is about to graduate from college with a degree in Creative Writing. A worthless degree you say? Probably. It's what I enjoy, and what I want to do with my life. At any rate, as artists have to work in order to exist, I would prefer to work for myself and have my income work for me. I intend on starting small with everything: my costs/lifestyle/income. What I mean by this is initially I'd like to work part-time in retail. During this time I'd work part-time on my blog. Then within a year I would like to be making enough money to support my lifestyle where I am free to create my art (and work around 4-6 hours a day on my blog). In other words I would like to be making at least $1000 a month off my blog in a year. Then, hopefully in the next couple years after that I'd like to increase my profits in order to quickly pay off my student loans, and safe up for getting more education as I would like to get into the Psychology field later in life.

When Steve started blogging, the chances of making money seemed a lot greater. What I've heard is that the blog market is quite saturated right now. I hope Steve or another knowledgeable person could answer this, but what is the likelihood of this plan succeeding, given that I would spend 4-6 intensely concentrated hours on blogging (as well as other online revenue generating) pursuits a day?