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Author: Leo.
I've recently started up a very small mini side project, my task was to see how quickly and efficiently I could level while making as much gold as possible. I picked a Night Elf Druid to level and by the time I got him to 56 i already had a hefty amount of 6,800g. How did I do it? I'll give you some helpful tips on what you can do to help reduce leveling costs and help you make some gold while leveling.
Never Buy Gear. Ever.
I didn't buy a single piece of gear when I leveled. You should NEVER have to buy gear now adays; You can either acquire it from quests or through the dungeon finder. Spending gold on gear will save you some gold while leveling. Another tip: Never buy leveling blues/epics. They're useless after a couple levels so you're never going to get their full use. Just don't do it.
When Buying Bags Calculate Price/Slot.
When I first bought my bags on this toon I didn't go straight away for the Netherweave bags. I searched the Auction house and then calculated the Price per slot ( Price of Bag / Number of Slots = Price/Slot EX. Netherweave Bag : 14g/16 slots = 87.5 Silver per slot ). I did this to get the best bang for my buck, most of the time the 10 slotters were the cheapest at nearly half the cost of netherweave bags ( 30-35s/slot instead of 70-80s/slot ).
Vendor Recipes Are Your Friends
I hold these guys very close to me. They brought in a hefty chunk of my income while I leveled. I got my first 1,000g purely from selling every single vendor recipe around me from SW & IF. I also snagged whatever I could while doing dungeons/questing for even further profits. Rare recipes are your friend, some can yield as much as 2-5,000g. Always price check recipes if you're unsure if they're rare or not.
Dungeons Are Great For Gold
Why? Because you have the chance at obtaining rare recipes, rare BOE blues and sometimes even epics. I myself obtained a handful of recipes that sold for over 100g at the AH as well a blue or two that also sold for several hundred gold. Not only do you have a greater chance at recipes/blues but you also gain a hefty amount of experience and gear while doing dungeons. Do keep in mind that you're rolling on items against 4 other people, but with some luck you'll come out on top.
Find Niche Markets
Niche markets are great for starting out, I dabbled in a handful of markets, rare enchanting formulas ( Crusader, Icy Chill, Fiery, Etc ), Elixirs of Giant Growth, Elemental Water, Air & Earth. Niche markets are your friends, they have low competition while yielding excellent profits. Learn to love these markets if you expect to make gold while leveling
If you're having trouble finding some niche markets or niche items such as rare recipes, the undermine journal is your friend. Set up notifications and you're good to go.
Need starter cash? Gather.
Gathering was one of my best sources of steady income. Grab mining and herbalism and just gather while you level. You have no idea how much gold you can get for some of the herbs and ores; some can go for as much as 50g per stack! Gathering is an excellent way to net some cash; especially at those early levels where you're flat out broke.
Those are just some basic tips and tricks that I utilized while I leveled my druid. I hope and I plan on having enough gold for sandstone drake before 80. That's right, I'm expecting to make around 35-40,000g by the time I hit 80, and perhaps somewhere near 90-100k once I get close to 85.
Have any comments or suggestions on how to make gold while leveling? Leave us a comment below!

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If you're going to powerlevel someone, do it in the right locations!
Here are my favorite power leveling spots in the game. The last three are awesome for having the person just sit there in xp range enjoying the slaughter and aren't as dangerous as moving through an instance (come on we've all lost a lowbie or two powerleveling them).
Dead Mines - Wool Cloth
Scarlet Monastery - Silk Cloth
Dead Trolls in Eastern Plaguelands - Rune Cloth and Essences of Undeath
Legion Hold - Netherweave Cloth
Sholozar Basin Undead - Frostweave Cloth
Icecrown Warlocks - Frostweave Cloth
Wanted to give a shout out to Hawque of Ner'zhul for completing his FREE Alliance Leveling Guide. He has announced that a horde one will be coming soon and released in three stages: 1-60, 60-70, and 70-80. Congratulations Hawque and best of luck with the guide!
Visit http://www.ding80.com/ to see his work.