It seems you are pretty new so I'm going to help you out.
I'm guessing since you just started, you are a free player. Free players still have access to a good bit of the game, but members have more.
Anyway, I judge decent armor by defense level. If you have 1 defense, full iron is your best bet.
If you're wondering how to get the money to buy things, come in our clan chat with us and ask around, I'll help you here, but it is better to ask in game because people can talk to you right there.
The easiest thing for a starting player to do to make money is to kill cows for cowhides. The cows are over the bridge in Lumbridge and north up the path a bit in a big pen. Cowhides are worth about 130 gp each. Ten of them get you full iron armor, I do believe. In order to sell these, NEVER go to a general store unless you have some outstanding reason. Simply go up to the grand exchange in Varrock, (Look at the world map to find it), sell them for normal price, and then you can buy your iron stuff.
Also, to answer your question, WC stands for woodcutting. Almost everything has an abbreviation in Runescape. (GE was the grand exchange I was talking about, RC is runecrafting, GP is money, STR is srength, etc...)
If you have any questions, hop in our clan chat, egoclan, and talk to some of our members.
