I often see low level characters spending valuable time scouring the auction house for better gear, weapons, and armor. Of course, this is fine if they are an alt and have a high level character that is funding their hunger for tweaking. However, way too often that isn’t the case. They are first time players, it is their first character, and they are sitting around trying to find something just a little bit better for their gear.
There are several problems with this. The first is obviously that any gold they are making from other gold making strategies is being sent right back into the market by buying up everything they can get their hands on. You know what? Half the time they are buying useless crap that isn’t even that much of an upgrade for them — because they don’t truly understand their character yet!
With the hours that they end up spending in the auction house looking for the next best thing, they could have been out there questing, leveling, grinding for gold, or working on their professions that will be bring gold in… instead of throwing gold out. When it comes time to buy a mount, there are boat loads of players who are begging strangers for gold because they don’t have enough for their mount. A mount is important! Don’t end up in this situation. Hold onto your gold.
Don’t stress about your gear at low levels. If you don’t have the very best you can find, it isn’t going to make or break you until you’re level 70. Everything that you need for armor and weapons will normally be available through quests and instances. Team up and get in the instances and you will have the gear you need. When you get to 70, then you can start worrying about tweaking out your gear (and your reputations, off-professions, etc… Trust me, when you reach 70 you have a whole other set of goals to be working towards!)

