How are you on bags? For starting out on the cheap, I recommend filling your bank with caster research boxes. They are 10 slots and only 10pp each (like Lexicon, Elemental Grimoire, etc.)
For casters and monks starting out I recommend the bags you get by turning in greater lightstones. They are only 6 slots but only weight 0.4 lbs each instead of 3lbs for regular backpacks. That's 20+ less pounds to lug around which is huge for monks and very helpful for casters with low strength.
For your inventory later on you can make or buy handmade (10 slot) backpacks for 60pp each. They are 1lb less than the research boxes but 6x as expensive.
You'll want one container that holds giant items, the cheapest are the 1pp large sewing kits you can get in the NRO Inn (Spoolee Gee I think his name is). When money isn't as tight, you can get a Shralok Pack (8 slots, 25% weight reduction & holds giant items) for 100pp.
I didn't see anything about a bow. You can get a runed oak bow (21/43 125 range) for 100pp. With Velious out, there are a ton more tradeable bow choices up to the 32/36 Exquisite Velium Reinforced Bow for 9-12k.
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