You have to do this cheat at the beginning of the first chapter when you meet Jan (one of Don's hunters).

When Jan is siting in front of you, talk to him, then beat him down, but don't kill him!

Make sure to beat him near the chair he is siting on. When he is down go to the midle of the chair and press A to go to Jan's inventory.

Don't loot him, just wait until he gets up. He will come to sit on the chair again.

Keep pressing A and you will keep getting rusty swords and woodcutter axes. You should get around 10 axes and 5 swords each time. The value of each axe is 10 coins. I got 300 axes in one minute, which means 3000 coins in one minute.

Then, when you get too much money and want some XP, simply go to Habour Town and buy shark steak from the fish seller. Then if you cook the steak and eat it, you will get 15 XP each time.