Take all of your money out of the bank on day one,
and don't return it until after the robbery has occurred. Buy pills rather than potions at magic shops; they're a
better value if you weigh the cost against the amount
you'll need. Keep a good stash of health, vitality, and
mana pills (if you are a wizard or paladin) in your belt
at all times, and use them whenever you drop below half
your max. Save right after you are assigned to any given Rite.
If you are beaten by one of the other contestants, just
restore and play through again. By the time you finish a
Rite, you'll know exactly how to complete it, so you'll
get through in only a fraction of your original time. Try to talk to everyone at least once every couple of
days, even the people who are difficult to reach. Keep a few Pegasus feathers on hand. If you need to get
down from a high ledge, just use the feathers.
Also, Hippocrene water has a wide variety of uses, as
do empty amphoras (it's worth lugging these heavy vessels
around). For a bit of amusement, try using the Levitation spell
under the windmill near Science Island, or throw pizzas
at the citizens in the Town Square (you may need to throw
several pizzas before anything will happen).