If you're already using WordPress.com, then going self-hosted will even save you money, as well as give you more features for your site.
Download and install any plugins you'd like such as Google Analytics, Opt-in forms, Newsletter pop-ups, Affiliate integrations or anything else.
When you're self-hosted you have no limitations when it comes to monetize your blog. Use affiliate codes, adsense or other method you'd like!
Depending on the host of your choice, you can have unlimited disk-space. Never worry about running out of space if you use many photos.
You have access to all the themes in the world when you're self-hosted! You can upload and install any design you find online!
When you're self-hosted YOU own your blog, not your host (Like WordPress.com or Blogger). Nobody can delete your content.