Blog creation doesn't require any payment, create a blog in the topic you have known or interested, i insist it because creating a blog in an unknown  topic gives you nothing. The main advantage of blog is easy to handle, you can update your data easily and it allows  to have contact with your reader by giving comment. you can reply to them which tightens the blogger, reader relationship. This helps to improve the blog traffic. you can post n number of post in your blog. The latest post will appear first.

How to create a Blog:
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• Blogger and wordpress are the most widely used blogging platform.
  

• Blogger is owned by google. if you want to apply for adsense i prefer blogger.To create a blog using blogger go to Blogger.com and sign up.
  

• To create a blog using wordpress go to wordpress.com.

How to generate traffic:

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     Traffic represents number of readers of your blog. If your blog is visited by more readers,then it is said as more traffic. When you have more visitors search engine prefer your blog who searches the topic related to your blog.

• First, is your blog content, the message given in your blog should be useful to the readers, this will help to retain the readers.

• post comment in forum and blogs related to your topic.

• By word of mouth, tell to your friends and relatives.
  

• submit your blog in search engines.
  

• Maintain communication with the readers, by allowing them to post comment, reply to that comment.