How can I increase My PR/page rating of my blog?  

To increase PR Blog there are a few tips and tricks that you exchange links with your friends / other bloggers, Blog Walking, to get back to visit your blog, comments on blogs that have a high PR, Link, and Achor Leave text on Do follow blogs, Create Signature in forums with a link to your blog, Create a unique article, Google loved this!

Try this:
1). Make exchange links with others blogger.
2). Leave comment inside blog/website that have high page rank.
3). send your link post to Digg.com

I monetize my blog by putting some adsense,nuffnang ads and join some affiliate programs with the same things what I'm blogging..Example: You blogging about PTC website. You can put some link/banner affiliate from the PTC website that you join.:)

submit ur blog 2 various blog search engines. Write article about ur blog and submit it in to stumbleupon and other sites, create feeds on ur blog, for monetizing us ad networks such as bidvertiser,adhits,freekki,adjungle and so on for more details of dis kindly visit my site & blogs 2 kno how i monetize and earn from them, my site is @ my profile.

To increase your Page Rank, you have to do backlincks, that the piece of advice I can give you...
To monetize my blog I use: google adsense...

Hi! There are various ways for you to increase your blog's page rank. I used to be a blogger, and I know a little about SEO, so yea.

First off, when you blog, include keywords. For example, if you want to blog about "make up", make sure that when you write your blog post, the word "make up" is mentioned around 3-6 times throughout the article. This will make search engines like Google find your blog easier, thus increasing your page rank. Make sure that you don't place too much keywords, though, because Google might think that you're spamming. Keep it moderate.

Second, exchange links with fellow bloggers. One basis of a page rank of a website is how many high PR sites link back to you. So make sure that a lot of sites have your link, and also comment on those high PR sites.

Third, submit your website to bookmarking sites like Digg, StumbleUpon, Reddit, etc. The concept is the same with the backlinks thing.

Fourth, post as much as you can, but make sure that your posts are informative or entertaining. And don't forget the keywords!

You can monetize your blog by signing up for Google Adsense, or other similar sites that want to advertise on blogs. You can only sign up, though, once your page rank is high. So basically, your investment would be your hard work, writing, and backlinks. :)

Hope this helps!

SEO your blog and write good quality articles with high keywords.
Build backlinks (you can read others topics here).
Maybe a domain name also but it is not necessary but i think if you want to have more authority, don't hesitate ^^.