I'm thinking of setting up a website and wondering on ideas of how I could make some money from it, not looking to make loads just to cover the cost of the domain name and hosting,

Its going to be a site about my fitness hobby - cycling

thanks

You could try one of the pay per click advertisers....

A good uk one that I know of is tradedoubler.co.uk<img src="http://impgb.tradedoubler.com/imp/inv/594057/1042060" width="8" height="8" border=0>

have some kind of subcription service for articles that you publish.

Similar to a forum perhaps, though it would need a lot of articles for people to want to start paying for it.

Sell t-shirts, infact I think theres a site that produces and delivers the t-shits for you and all you need to do is the design.

Yes you can earn how much you want depending on what your website page rank is. If many people visit your website then you can earn a lot through Google Adsense.

There are lots of ways to earn using a website.
a. sell ads space
b. sell some products, which means apply as an affiliate
c. sell links on evey pages of your site
d. write a review and get paid
c. Most of all apply for Google Adsense