It is a known fact that crafting proffesions can be a money sink. THis is only partly true, due to the fact that if you play your cards right you can easily make money off of crafting professions even at a very early level.
To follow this strategy you MUST have the gathering skill compliment to you crafting skill. (i.e skinning/leatherworking, herbalism/alchemy, mining/blacksmithing, etc..)
You must also NOT take engineering as the items you create will mostly require engineering skill to use and is therefore in much lower demand than, let us say, a piece of armor worn by a class.
Step 1:
RIGHT as you hit level 5 make a trip down to a major city and pick up the professions of your choice. For the following steps I will be using skinning/leatherworking, but any combination of gathering and its complimentary crafting would be fine.
Step 2:
USING your new gathering professions, begin gathering materials. For this example, you would go questingback to your general starting area and skin all the mobs (enemies) you kill during your quests if they are beasts.
Step 3:
CONTINUE doing this until you are required to make a trip to your major city or happen to pass by. By this time, you should try to have your gathering skill up to at least level 50 skill. DO NOT BUY MATERIALS OFF THE AUCTION HOUSE! Using the materials you have, create a multitude of low-level craftables.
Lather, rinse, repeat
Step 4:
ONCE you have raised your gathering skill and production skill enough so that you can make a green item, or decent potion, you know it is time to finally make your way to the auction house. You should post your item at material cost (by AH standards...you got your materials yourself =D) plus 5-10 silver. Once you get into a higher level bracket (above level 15 or so) you should begin to post items at material cost plus 20 silver, then 30, and so on. This pattern will only work up unjtil around level 30 or so, as items become more expensive and can net you more profit than an extra 30 silver. (At taht point you can be making 1-2g extra)
MORAL OF THE STORY = Do not buy your materials off the AH. You should post your things for material price (according to AH or Allakhazam median) plus a bit of extra cash (whether it be silver or gold it depends on item level).
I know this may seem very simple and vague but you see many questions about "how do i make money with my _____ skill?" and this should help, even if only a little bit.
Edited, Jun 17th 2007 12:19am by ToroToroBull