As you level, you will buy new ranks of spells. If you splurge out on an item upgrade, you will not have enough gold readily available to upgrade to the latest ranks of spells: placing you behind. Moreover, you can buy gear upgrades from the Auction House (AH) or vendors. Furthermore, you may have large investments that need to be paid for professors. You will need to purchase reagents and items such as leather, bolts of cloth, alchemy supplies – unless you have a charitable friend or another high-level alt.
Pick the Right Professions - Professions will amount to a very large portion of your Gold income if you pick the right ones. We will cover this subject in much more detail in the next section of this Guide, but here is a TL/DR version: Gathering Professions are generally better on new servers (for example, Skinning provides you with some extra money for every single Beast that you slay in the world, even if you just vendor the gathered Leather), especially if you are leveling quickly, as Crafting professions require a lot of Time and Gold investment to level up (but they get much better when you are leveling slowly and during the End-Game, because then the ability to craft some gear starts to outvalue the ability to make a quick profit).
Kaivax, a WoW forum community manager, revealed that WoW Classic's class design, battleground mechanics and stats on existing items will be set to their 1.12 state, despite the game releasing content that expands beyond that. This removes "progressive itemization," so if the stats on a specific piece of equipment was changed during the original updates, that won't take effect in this version.
Cold Eye Basilisks (marked RED on the map) - Western shoreline of the middle Stranglethorn Vale is infested with deadly Basilisks. These monsters are a good source of Heavy Leather and Thick Leather (we recommend Skinning for this spot), they also drop a lot of Vendor Trash Items (Curved Basilisk Claw, Intact Basilisk Spine, Large Basilisk Tail, and Squishy Basilisk Eye), Large Fangs (used in Leatherworking, Blacksmithing, and Alchemy Recipes), Wicked Claws (used in Leatherworking and Blacksmithing Recipes), 12 Slot Bags, and most importantly, Cold Eye Basilisks have a small chance to drop the Cold Basilisk Eye (a level 35 BoE Trinket, that can be very valuable, because useful Trinkets are rare in Classic). Recommended Level - 38+.
*If you run out of Bag and Bank space on your Alt, fear not, as the Mailbox itself is a great place to store your Items. Just mail everything to your Alt and keep it in the Mailbox. Expired parcels will be automatically mailed back to your Main, so you will not lose any items and be able to Mail everything to your Alt again (Mailing items cost some additional Gold, but the amount is negligible when compared to the utility provided by almost unlimited storage space).
Thalassian Base Camp (marked BLUE on the map) - Some Blood Elves have set up a camp in the northern parts of the Azshara. Blood Elf Reclaimers and Blood Elf Surveyors that can be encountered in the said camp are rather easy to kill and have very good Loot Table. The most notable items dropped by those Elves include Runecloth, Mageweave Cloth, 16 Slot Backpacks, various Vendor Trash Items (junk weapons, armor, and so on), and Pocket Money. They can also be Pickpocketed, so this spot presents an additional value for Rogues. Blood Elf Reclaimers have access to strong Fireball, Heal, and Renew Spells, so they should be interrupted when possible and prioritized. Recommended Level - 52+ (54+ to be extra safe, and farm Elves at an increased pace).