Soul Gems can be found in crates and shops all across Morrowind. These gems are used for the containing of souls. Using a spell or enchanted item with a soul trap ability will seal the soul of a defeated creature. For a soul trap to work, you will have to kill a creature within the time allotted by the ability. If a soul trap is successful, the soul will be stored in the lowest level soul gem available. Sealed souls sell for a rather high amount. For example, a Scrib soul sealed in a Petty Soul Gem values at 100 gold. Stronger creatures in higher level Soul Gems will sell for much more.
There are many NPC's and houses on Morrowind. Most of these hold a good amount of sellable or usable items. These items will save or get you alot of money.Stealing will be introduced at the very beginning of the game when you have to take a dagger as well as a ring. Many of the items in the game will be to highly priced for you to afford. There are a couple problems with stealing though. First of which, it is illegal. If you are caught stealing, you will be reported, attacked, or both. If a guard catches you, he will fine you for the amount of the stolen item, or send you to jail as well as take every stolen item in your inventory. You also have the option to resist arrest but it is not suggested. If you are caught it is suggested that you pay gold rather than go to jail or resist arrest. Going to jail will lower your skills and resisting arrest will, most usually, end up getting you killed.
Using NPC's to your advantage will be a major help all throghout the game. Pickpocketing is an easy way to obtain items from an NPC without killing them. Pickpocketing is influenced by the Sneak skill. Pickpocketing will not always work and if you are caught, you will get the same results as if you were stealing and you will be fined an additional amout of money.
One other opportunity for obtaining money through NPC's is to kill them and loot their bodies. As you could guess, murder is illegal. The fine for murder is 1,000 gold. You should only kill bandits or people alone in a house. Killing in public is not suggested. You will be able to take anything that the NPC was wearing and usually a small amount of gold. It is legal to kill someone if that person attacks you first. To use this to your advantage, steal a lowly valued item and wait for the NPC to attack you. Once the NPC attacks, kill him or her and drop all of your stolen items afterwards. Then, turn yourself in and pay the very low amount of gold to remove the bounty from your head. After that the NPC's body and possesions are yours to take.
Most items in the game have a value. These items can be sold to certain shopkeepers all across Morrowind. This is one of the most basic ways to aquire money. It is recommended to exercise your Mercentile skill often. You can get an additional amount of money, usually no more than 10 or 20% of the items value, when selling items. Remember, though, you cannot excede the amount of gold that the shopkeeper has. Using some of the gold you are getting to persuade the seller to like you is a good way to get him or her to give you an additional bonus to your sale. In other words, you can get more money. Persuasion deals with your Personality skill. If you are looking to make your entire game revolve around wealth, make your Personality and Mercantile skills some of your major skills.
Vvardenfell is one solid island, which means it is surrounded by ocean. In the ocean, Kallops can be found holding pearls. Pearls sell for 150gp each so, if you collect a few, you could make some decent money. This is mainly for lower levels but the pearls also make for good alchemy items.