Money making is like any other person trying to make money.
What I did to make money was mining coal in the wild and mass selling. You could also turn them into Steel Bars for even more money and help out your own smithing.
For woodcutting it takes more time. With mining you need 30 mine, but with wood you need like 60 woodcutting to be good. Yews sell for high.
All about preference. Woodcutting is better for money, just hard to get to.