FireLance
Legend
I use a system similar to CovertOps, but I also give each character a small amount of gold which they can use to buy consumables (potions, etc.) or save up to buy other magic items later.
Essentially, whenever a character gains a level, he gets a magic item of up to his new level +1, and gold equal to one-fifth the gp value of a magic item of his new level -1. If the character opts for a magic item of less than the highest level that he can obtain, he gets one-fifth of the difference in value in gold.
Example: a character who reaches 2nd level gets one 3rd-level magic item and 72 gp (one-fifth the value of a 1st-level magic item). If he opts for a 2nd-level magic item, he gets an additional 32 gp (one-fifth of the difference in value between a 3rd-level magic item and a 2nd-level magic item).
Characters can sell off their magic items at one-fifth value, as normal.
Essentially, whenever a character gains a level, he gets a magic item of up to his new level +1, and gold equal to one-fifth the gp value of a magic item of his new level -1. If the character opts for a magic item of less than the highest level that he can obtain, he gets one-fifth of the difference in value in gold.
Example: a character who reaches 2nd level gets one 3rd-level magic item and 72 gp (one-fifth the value of a 1st-level magic item). If he opts for a 2nd-level magic item, he gets an additional 32 gp (one-fifth of the difference in value between a 3rd-level magic item and a 2nd-level magic item).
Characters can sell off their magic items at one-fifth value, as normal.