The answer is yes. I have been doing this for over 5 years and I earn $500 plus a month most of the year. Actually my niches are pretty seasonal so I make most of my money between October and January. But the rest of the year I make around $500 a month.
But you need to understand that it takes time and effort to make money with affiliate marketing. I didn’t really start making consistent money until year two. But you make do it quicker if you learn faster than me and if you are able to invest more time. I have been building my business around my full-time job.
And also be aware that there are a lot of scams out there. Yes I have been sucked into them them. There are lots of site that show bogus statistics that want you to invest money just to get started. Any legitimate affiliate marketing company isn’t going to ask you to invest money. Especially if you are marketing physical products like those on Amazon.com.
If you think something is a scam, there is a good chance it is. But if you are not sure, do some research. One thing you can do is go to google and type in the name of the company and then type scam. Read what some of the complains are. If people complain about investing lots of money and losing it, then you have a scam. But keep in mind there are a lot of people out there who want to complain about legit affiliate programs because they simply expect money without doing any work.
I also suggest going to Wealthy affiliate or an affiliate marketing forum and do a search on the company. The reason why is because many of fellow affiliates have come across many of these scams. And can help give you some real information.