How monetize your blog without actually getting any richer...? Hmmm.
I found this and I think it is a great idea to make money online... Well the money does not actually go in your wallet per se. At networkforgood.org they have set up these charity badges for charities being promoted by famous people or your can create your own. I put one on my blog though and I am going to make use of this a lot I think. They are good not only to try to solicit donations for the charity of your choice, but they can also help to raise awareness I suppose.
www.networkforgood.org
I don't know if this is what is meant by monetizing your blogs. I think maybe I misunderstood the question. ;-)