You have too many parties running arround atm. Towns make most money, only 1 can't support 4 parties, make a companion a vasal or cut a party or 2, unless you use them and go to war to conquer more immediatly. Perk up correctly to cut costs, party leaders and governors both.
But early game when you're a humble trader who doesn't side anyone, with no enemies except bandits, do consider a caravan after your first workshop. They make a lot of gold. Only after being a vassel your caravan will be at risk of being destroyed. #8. RickJamesYies Apr 7, 2020 @ 12:37am.

Make polearms or 2h axes, with the biggest shaft you can find and the smallest head you can have. These (usually) get the biggest returns, because of minimal investment into material and very good profits. Also, smithing something like this usually gets 2-3 levels of smithing every time.

Complete Village Quests. When you're first starting out in Bannerlord, one of the best ways to make fast money is by completing village quests. Try to visit nearby villages and find quests The Leader of a clan holds all of their wealth, the more money a clan has, the more they will want in payment. Now comes the art of the deal TM. Instead of settling your war price with the faction as a whole, and getting money per day- You can make a deal with an individual lord, and they will graciously eat the whole war price for their faction.

The best way to make money in Bannerlord is smithing (once you've unlocked enough recipes and have about 140 smithing skill). Early on, the stuff you produce is worthless, but as you start making tier 4 and higher weapons you will discover combinations that create weapons work up to 100k denars in value!

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mount and blade bannerlord how to make money early