One frequent request from bloggers using blogspot (www.blogger.com) is to get rid of the year and month in a post permalink and just have relevant keywords in the post URL. This is not possible with blogspot blogs but is possible with self-hosted Wordpress blogs. (Update: Blogger updated post editor now gives in the options a way to customize permalinks)
Affiliate marketeers who use blogspot blogs as landing page for their affiliate products run a serious risk of having their blogs deleted. For such purpose, a self-hosted Wordpress blog is preferable.
One more reason why a self-hosted blog is preferable to blogspot blog is direct access to the server possible with self-hosted blog but impossible with blogspot blogs. There are various things you can do such as creating pop-ups or pop-unders which is only possible by hosting the blog yourself and not let Blogger host it for you.
However, one big disadvantage of self-hosted blog is the need to find reliable web host provider plus worries over security issues and other issues such as sufficient bandwidth, cost, uptime, etc.
Having a web host review site such as Top 100 Web Hosting will help with selection of a suitable webhost for your self-hosted blog as they have used various criteria to rank web host providers using criteria such as availability of unlimited web hosting, reputation, features, users rating, green environmental issues, reliability, speed,
you can read up, for example, Web Hosting Review HostGator before you make up your mind about which web host to use.
If cost is an important issue, there are tips on How to save Money on Web Hosting.
To make your money go further, you can also find Web Hosting Coupons & Promotion Codes for further discounts and get exclusive deals.
Top 100 Web Hosting help you save by highlighting exclusive deals, providing coupons and promotional codes to copy-paste to get discounts when ordering and secret links which are only available in their website.