It has no money. It has no gear. It has no cutscenes or events. All it has is spells and stats.
All four elements have their individual levels. To level them up, find spirits in the overworld or get a level up, and it'll let you put one point into an element. When you have enough points in two or more elements, it'll let you combine them (but you have to remember the combinations).
All your stats have individual XP bars, and raising one to 100 gives you 1 character level (which also gives you 1 point for your elements). To level them up depends on what you wanna raise. DEF is raised by getting hit. MP is raised by using magic. HP and physical attack are raised by bonking enemies with your staff. That kind of thing. (TLDR it works like Final Fantasy 2)
It's very simple as an RPG, but it's pleasant to look at and listen to.