EASY MONEY - http://www.youtube.com/watch?v=N5rgd-hP_gM
Go north of Whiterun to the Halted Streams Camp. Inside you'll be able to mine dozens of Iron Ore. In the heart of the mine, you'll find a book on a table which teaches you the Transmute Mineral Ore spell. Use this to turn that Iron Ore into Silver Ore, and the Silver Ore into Gold Ore. Make gold jewellery out of your gold and jewels and rake in the cash. It will also skyrocket your Smithing skill.
A mini tutorial of how to craft your own gear in Skyrim, since it's not covered very well in-game. You will need a pickaxe, obtainable from any local smith and most vendors.
1. Find an ore vein. These are scattered randomly. Look for odd colors amongst the rocks, and shiny bits to indicate the rock holds ore.
2. You will need to find a furnace to smelt your ores into ingots. The Riverwood smithy does not have one. This one is located in Whiterun.
3. Use the forge to craft all weapons, shields, and armor. Certain tiers of armor need perks to forge.
4. For leather and leather straps, use the tanning rack.
5. Finally, use the grinding wheel to enhance weapons, and the work bench to enhance shields and armor. Keep in mind that as your smithing gets better, you will be able to upgrade equipment to a higher level.
Most basic materials can be purchased at smithies. It is possible to make money from this, but you will need to have a very high speech and haggle capability.