Generally speaking:
5 megabytes of web space is good enough to start if you are in the first steps of your online presence. With this size of the web space you can have the following content (aprroximately):
20 Kbyte average page including one average size pictures -> 2500 Web Pages
40 Kbyte medium size page including couple of average size pictures -> 1250 Web Pages
80 KByte heavy weight page including several average size pictures -> 625
This calculation is based on the assumption that you download your emails to your outlook email tool. If you use webmail and do not download the emails, it will eat the space on your account.