##Good options##
- At the very start your best bet is fighting bandits/looters and selling their equipment. You will probably even be able to fight the smallest parties all alone by kiting them with a crossbow on horseback. However, the sums you get are very small compared to what you will be able to receive later.
- When you get some combat stats to win the tournaments, some money to risk on bets etc, you may try your luck. I don't suggest to go higher than 4 at any single combat stat because you will need those valuable points for Charisma to increase party size and decrease party wages and Intelligence to train soldiers quickly and persuade lords to join you. Tournaments will get you both money and renown, and the rate will be high at the beginning. However, it will probably become very small one you become a known fighter.
- Quests -- when you are more or less established, but not a steamroller to everything yet. This is mostly important because you get reputation with quest givers, especially villages. Choose which quests to do and which to ignore -- for example, I don't like quests about interfering in a conflict unless you can settle it, because you lose in total. I don't take quests about herd, because it's very hard to move it in vanilla, etc.
- Dyeworks in every town. Just steady income. Takes some time to pay off, but once you get some extra money, put it here. Begin with the cities with which you don't plan to have a war soon. :)
- Get towns. One town gives you around 10 thousand a weeek, two towns -- around 15 thousand. Don't go for more than two, and don't take castles and villages, there are limitations that will make you get more than you spend. Don't you think that 15k per week is kinda OK?
##Not-so-good options##
- Trading is an option if you have a trader in your party, but for me it becomes boring quickly, plus you probably need skill points for something better for end-game than Trade. The biggest problem, however, is that merchants have very limited amount of money, so the scale of your trade factory is going to be very limited. Once you will find yourself in a situation that you just can't sell all the things you bought where the price is highest... So don't go for it unless you roleplay a trader.
- Raiding villages. Yes, if you have a good looter in your party, the amount of money you get is tremendous. Or it may seem so. But: 1) Once you will conquer this land, and the economy will be ruined. 2) Your relationships with the village, it's lord and the faction will be ruined 3) Your honor will drop, which you will need later. So don't do it unless you roleplay a looter.
- Looting -- when you are established already. Because it fills your inventory with useless things (save expensive items, though!), slowing your army on it's way to quicker ways to accomplish tasks and earn resources.
