Item and Weapon Upgrades

Wallet	To earn the first upgrade that allows you to carry 200 rupees, have 200 rupees stored in the West Clock Town Bank. To receive the next upgrade that allows you to carry 500 rupees, complete the Oceanside Spider House on Day 1.
Quiver	Clock Town and the Southern Swamp Shooting Gallerys will give you the quivers. Break the records and make the perfect score to get the next level. The first level holds 40 arrows, the second holds 50.
Bomb Bag	First you must stop Sakon from robbing the Bomb Shop owner in North Clock Town on Day 1 at 12:30. If you succeed you will be able to buy the big bomb bag from her store. Next, head up to the Deku Scrub in Goron Village. Talk to him as a Goron and he will give you the biggest bomb bag in exchange for your big bomb bag and 200 rupees.
Swords	Kokiri Sword Of course this is the first sword that you start out with, but why just settle for this sword when there is better out there. To test how powerful these swords are, we are comparing it to how many hits it takes to kill a Dodongo by regular hit. Kokiri Sword: 12 hits. Razor Sword Not too bad of a sword. It looks totally awesome really! Probably the kewler looking sword in all of the games. You can get this upgrade by paying the Mountain Smithy 100 Rupees and after one day you will have the blade. However, there is a catch. It's not permanent. After 100 hits it will go back to its original blade, or if you return to the first day before hand, it will return to natural as well. The Razor Sword takes 6 hits to kill a Dodongo. Gilded Sword Not as kewl looking as the Razor Sword, but still very impressive. This sword is received by having two things: The Razor Sword and the Gold Dust won in a race. First buy the Razor Sword on Day 1, then, the same day you received it, Day 2, go win the Goron's Race (which means you even have to beat Goht once again if you haven't), and still the same day, manage to get the material in to the Mountain Smithy long enough for him to make the blade in one day without the world coming to a catastrophic end. It is worth it however. It takes the Gilded Sword only 4 hits to kill a Dodongo and it's permanent.