In my opinion it is important to have your own domain name, preferably a .com. While this is not necessary, it is a good idea for the following reasons:

1. Search Engine Ranking - Having a keyword that descibes your blog in the web address can help boost your rankings a lot. Especially in google. Sites that are subdomains or directories are put at a disadvantage in search engines compared to domains.

2. Credibility - Having you own domain also looks professional, which give you and your blog more credibility.

3. Building YOUR OWN asset - This is what is most important to me. If you have a highly successful blog on blogspot you are building up an asset for Google and not just yourself. They also have control of your site’s fate instead of you, and I just dont like that.

There are lots of cheap hosting and domain registar around, you just have to shop around.

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