Yes. Several free blogsites let you create and blog your own content, and attach paid advertising.
One of the simplest to get started with is Blogger. You can create a blog account by visiting www.blogger.com. Once you create your account, you can start blogging.
To blog for money, go to http://www.google.com/adsense and create an adsense account. You will already need to have your blog active at at least a page of content.
When you create your adsense account, you can then go back into Blogger and automatically add the adsense advertising code to all your pages.
Other free blog sites include:
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