I hope the title of this post can put you at ease.
Blogging takes a lot of time to be worthwhile, and by that, I mean monetary and being considered on the lists of "blogs to read this month," amongst other things. This should not take away the opportunity to learn new skills and see what working on the internet is like, but it shouldn't be the end of everything in your career.
This is not an invitation to give up, but one to slow down. If this means taking the time to figure out what else to do with your life or having a normal job, so be it. Part-time blogging is no less important than full-time blogging - the level of effort into writing posts and promoting them remains the same. You shouldn't discount calling yourself a blogger, either.
So, if you're balancing your blog with a part-time or full-time job or studying, carry on. Your blog might thank you for it. Perhaps not being overly dependent on your blog for an income can make the journey less stressful and bring out more creativity.
Have you considered blogging full-time? Or going part-time? Let me know in the comments.