We all passed trough that peasant part of game.
With that light armors and cheaper weapons you will learn game,and you will more appreciate heavier armors later.
Just because it is light armor and cheaper and shorter weapons it doesn't mean it is crap. Usualy it is very good gear.
Light armors gives you speed,heavier more protection but less speed. Here is one trick how to make money.
If you have x1 or x2 in game use cheaper gear,when you have over x2 use better gear.
I would advise you to get urself kuyak or sarranid guard armor,you don't need to go over that armors because heavier armors gives you pretty big penalty in speed,and speed is very important in CRPG.
Get some gloves under 5000 gold,klappeviser,great sword,and longsword and woila you have good armor,good speed and good weapons,and you will make money.
You may have cheaper armor,but don't go over this.