And where shall I begin?
In Second Life the currency is the Linden dollar. If you are a Premium member you will get a weekly 'stipend' or allowance of 300 Lindens, which is currently worth about 98 cents. You will also get a one-time $1,000L bonus if you stay premium for 45 days.
If you have payment information on file you can buy Lindens at any time by clicking the handy "BuyL$" usually at the top of your viewer screen.
There are various ways of making money in Second Life, but none of them easy, and all requiring special talent. Still, for that L$300 a week you can do quite a lot.
Shopping for a place to stay:
Housing and Land? - A Premium member with available tier can choose one of the wonderful Bellisseria homes without having to pay extra tier. Or, you can use your 'free' 1024 tier and purchase a parcel where you can place the home of your choice. You can buy land at auction, or from private residents. I have seen quite nice parcels sell for a few weeks' stipend - check the auctions listing to get some idea of what the prices are like. You can also rent quite nice places if you don't want to be tied to land.
You don't need a house or land to live in Second Life - you can 'set home' in most of the Infohubs, or just select 'log-in to my last location'.
Buying a House:
Since it requires a lot of land to display houses, many builders often have an inworld parcel with a 'house rezzer' that will magically construct the house of your choice in front of your eyes. Some will give you a demo version of the house, or at least a prim that shows the house footprint. If you are watching your Lindens and have an odd-shaped 1024 be especially careful when choosing a house because it might fit a 'square' 1024, but not your 'pickle-shaped' 1024.
You can sometimes find bargain homes at large sales events or weekend sales. No harm buying a house that won't fit your current needs and saving it until you own a larger parcel.
You have a place to stay. Now to decorate the house.
Where to Shop for furniture, clothing, and suchlike:
The Marketplace: Maintaining a large inworld store costs Lindens, and the advent of electonic catalogues and eventually The SL Marketplace made it possible for some merchants to sell their products entirely online. On my browser the 'SL Marketplace' is under the 'Content' tab. The advantage of having the online Marketplace is that, with a little practice you can look for and compare items and prices. The disadvantage of the online Marketplace is that, unless you have actually seen the product 'inworld' or know the seller's reputation, you could end up with something quite different than you thought you were buying. (one gambit is someone selling a 'cow' that is actually just a 'cow texture'). Caveat and all that. Note: When clicking on "See inworld" it is good to be in flying mode, and don't be surprised if the place where the store used to be is now using a nasty security orb to get rid of all those unexpected visitors.
While not all SL Marketplace stores have inworld stores, there are also inworld stores that do not use The Marketplace. Sometimes a large inworld store will only list a small portion of what they sell on The Marketplace, because keeping all those listings current can be a chore.
Inworld Stores: Inworld Stores are found both on Mainland and in Private Regions. They may be at ground level, or up in the sky. Once I've found an inworld store I like I try to make a landmark - i.e. "Shopping - (Insert Name of Store Here) - nice clothing. " Again, when teleporting to any landmark, it is good to be in flying mode.
Most inworld stores will have vendors.
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