I'll offer some tips that helped me as a young monk. The Large Soiled Bag is awesome, 1.0 weight 100% WR but only small items, so your weapons probably won't fit in it, and they're usually kind of pricey (500-1k). The Shralok Packs are nice because they carry giant items, but only 25% WR. If you want to pinch a penny, but put a little effort into it, you can quest a decent bag that is 10 slots, 1.0 weight, 50% WR and holds MEDIUM items. The quest is here
http://everquest.allakhazam.com/db/quest.html?quest=278 . BUT its for evil races. The way I did it is - make an ogre shaman, level it to level 5 (the quest NPC won't give quest until lvl 5). Then use your monk to kill the Slayer Captain thing in Innothule Swamp. Gather a few of the necklaces, as it sometimes takes a few turn ins to get the bag. Log in your level 5 shaman, spawn the quest NPC, then log in your monk who has the necklaces. The quest NPC will path to the zone in (or very very close to it, close enough to stay out of harm's way). Turn in your necklaces until you get the bag.
Like I said.. the bag isn't superb, and it might take a little bit of time to get it, but it's an awesome sack for a lower level.
I would just use Shralok Packs, Large Soiled Bag, and the Forager Bag until you can save up / farm to afford a couple of Tinker Bags. Handmade backpacks suck for monk, because they are 3.0 weight and only 10% WR. So kind of useless, cept for making a ton of bank space.
There's my advice, thanks for listening.