You can't get much done on Titan without money. Money is needed to get a better Moth, weapons, a hangar, just about everything. There are several ways to make money and you should eventually try to mix things up depending on what's going on around you.
The basic occupations are described below:
 Trading -- You buy low and sell high. You use the trade menus at Trading Posts, like Trade Central (Downtown), to see who needs what and where to get it. You always keep a lookout for particularly high markups that may come in your messages. You biggest obstacles are the pirates who want your cargo and will kill you to get it. Knowing where to buy and sell what items is as basic as good piloting skills in Hardwar.
Scavenging -- You search the surface of Titan for any "left overs" of dogfights. Mostly this is scrap metal, but occassionaly you'll come across some jettisoned cargo and grab it before a pirate does. Listen for the sound of cannon fire. This is like the ring of a cash register to the Scavenger. If the pirate gets the upper hand, there will be jettisoned cargo to collect. Your biggest challenges are to beat out other Scavengers to your target and evading pirates while you're running to sell it.
Bounty Hunting -- Bounty Hunting pays pretty well, especially if you do a little work for a faction. I recommend trying a little bounty hunting when things are slow. Clearing out pirates seems to get Titan moving and shaking. You can reap huge profits by working for a faction and attacking the opposing faction's transports. You'll get to pirate cargo as well as getting consistently high bounties.
Piracy -- This is my personal favorite. It's the quickest, surest way to riches. I rarely go through the plotline without becoming a millionaire. Piracy takes all of the skills of a top trader, scavenger, and bounty hunter all in one. In addition, you must be familiar with the techniques of gaining amnesty from various factions. Pirates are the true rulers of Titan. Even the Laz and Klamp-G have to occassionally kneel to them. Your biggest challenge as a pirate is finding good prey and quick amnesty. It seems that someone will always be gunning for you. You must be an expert at knowing when to fight and when to run.
Overall, you'll end up doing a little of everything depending on what's going on in your game. I'm a pirate, but I do a lot of trading to get a Police Moth or Fusion Cell. When it seems like things are slowing down pirate-wise, I'll do some bounty hunting to clear out some fellow pirates leaving more for me.
Check out the links in the right column to read more about making money on Titan.
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