You can make tons of money with enchanting, assuming you disenchant. There are always lots of low level greens that can be had for a few silver. Get those and DE them. Sell the mats. Repeat. Two add-ons required for this are auctioneer and enchantrix. Enchantrix is in an alpha state, so exepct some bugs. Both of those can be found at auctioneeraddon.com. More money will allow you to progress faster, but you can start with just a few silver. You can reliably double your money (or better) if you play the market right.
it is very difficult to make any money actually doing enchants. About the only thing that I can sell is fiery. I still haven't made enough money to cover the cost of the recipe though. One strategy for making enchanting work is to buy something that DEs into the mats you need for cheap. For example, aquamarine signets DE into small radiant shards, and can usually be purchased for about 5g on my server. The shards go for 8+. Get that and the essence of fire, and you can have a 33-35g enchant for 21g in mats. Granted, you would be better off just selling the mats, but at least you can "feel" like you are making money enchanting. But as ohmikeghod will point out, enchanting is a gathering profession if you use it correctly.
One last thing, it is nice to have lots of money. My 56 mage (highest level character) has about 1700g right now with about 300g up in auctions. It is nice to be able to buy anything I want and not really worry about. The only gold I have ever "bought" has been the premium membership here to search the forums. Well worth it!