Okay, the first thing that you should do is to TRAIN!!
Get your defence up to that 35 defence boost, and your hitpoints to around 40. At the moment, your hit points are very low for a 35 booster pet, and this will cause you to lost a lot of battles. This will use up quite a bit of your 500k budget, but hopefully your daily income will cover a large amount of the training costs.
For a battle set, I am going to reccomend these weapons:
For your main attacking weapons, I would reccomend the 9 iconers. Get a
Golden Compass, these do 9 good icons, plus defend 3 dark. Once you get your defence boost up to your strength boost, this defence might come in handy. Dark isn't extremly common at this level, but against the
Scarab Ring and the slightly higher levelled
Ramtors Spellbook it can be useful. Plus, they cost around 100k, making them very good value for what they do.
For your second main weapon, get either the
Psellias Fighting Fan or the
Ice Club depending on how much you want to spend. The Psellias Fighting Fan will cost more than the Ice Club.
For Defence, definitly get a
downsize!. For your other defence item, get either the
patched magic hat or the
leaf shield. These last two items that I have mentioedn will only have limited use until you have that 35 defence boost though.
For a healer, get a
Blue Scorchstone. This heals up to 30 Hitpoints. When you are are up to around 50 Hit Points, then get a
Greater Healing Scroll.
Purple Sticky Hand This will be your stealer. Although this weapon only steals from the first slot, and a lot of people just put junk in the first slot, you will find some that don't, and of course, because you are going to also be doing a little bit of 1 player battling, it may come in handy. Some of the 1 player challengers have good weapons in their first slot.
Some people are against freezers that aren't 100%, but I would still reccomend that you get one, expecially because you will be doing 1 player as well where reliability of a freezer isn't as important because you can just keep withdrawing until you get a freeze on the first round. If you get a freezer, then the one that I would reccomend is the
Snowglobe Staff. Though definitly start saving for a 100% freezer, like the
H4000 Helmet
You can't yet afford a good once per battle bomb, because it is out of your budget. The cheapest good one is the
Honey Potion which currently costs around 800k. Instead, just use one use bombs for important battles. e.g
Snow Mudball,
Sticky Snowball,
Shooting Star Muffin.