Found this at FXB by a guy named Calvin:
Possible spoilers, I suppose. This is just a small guid e to getting started strongly and efficiently in Morrowind.
I see you guys are having some difficulties getting started, I had the exact same. Although I played the PC version and I've gone through the starting a number of times already. So if you would like to get through seyda neen in 30 min with a couple grand gold read on. Want to figure it on your own, go ahead ... waste 4 hours.
Ok, step 1. Right after you finish your char and get your paper to take to the captain, steal everything worth any value in the first room (not the one with the gurad, the one where it tells you to pick up the dagger)
Step 2. Get the ring from the barrel just once you exit that area and the game tells you you have a map now.
Step 3. give the ring to it's rightfull owner, Fargoth. he will thank you and in return the trader there will also thank you and thus he'll have a higher disposition and you will sell the goods you stole for more. And buy for less.
Step 4. Talk to hrisskar after selling your loot. He'll give you the mission to get Fargoth's gold from some hidden stash.
Step 5. Head out of town and head left, you should see a man fall to his death. Take everything on him. To the left thereabouts is a dead man, he should have gold and some tax papers. Leave the papers.
Step 6. Go to the light house top and wait there until 9 - 10 pm. Watch Fargoth go to his hiding spot, then proceed to it and there you will find 300 gold, a lockpick, and the ring you gave him earlier. ( )
Do not talk to hrisskar ever again. He'll take 200 gold from you.
Do not talk to the census taker, he'll ask you questions about the death of that man.
Step 7. Buy armor and items from trader, keep in mind that in the mines where the thieves are there are chitin pauldrons, I believe ( I vcan never remember exactly what) Though those are cheap anyways.
Now you have a ton of gold, you should be adequately armored with a nice weapon.
The rest is up to you, if you are a thief or want to steal more read on.
Next, go back to where the captain was that gave you orders to take a package to caius Cosades. Actually don;t go inside, just across from his door there is a locked door. If you get insed there, there is a lot of steel armor. I found an enchanted longsword that lasted me a very very long time my first time through.
Now proceed on. Either ride the Silt strider (Giant ****roach) or run to Balmora. I suggest riding, the run sucksass.