I've been told by some that Affiliate Programs don't make any money and to stick with AdSense. Others say that Affiliate Programs are the only way to make real money on the internet.

I have more experience with AdSense than affiliate programs, so I wanted to get your opinions about which is true and which is not--if either.

Thanks!

It really depends - I know many people who are making a really nice incomes running affiliate programs. That said, it can require more time and resources compared to just running AdSense so there is definitely a trade-off to consider.

If you do decide to test an affiliate program don't settle for the base commissions they offer you. Establish a track record of high traffic and good conversion and then negotiate yourself a better rate. It may take a couple of months but this is the only way to make your participation in an affiliate program really profitable in the long term.