You'll beat him when you're higher

. You can try casting fire wall when he gets fear on you so it takes the next hit with no damage to you. You can also use one of those expensive pills to get rid of the status but that's probably beyond your budget at the moment XD.
Str bow is probably better vs wizard, unless you go stealth on the rogue.
Darn you wootpops, for beating me to the reply.
Edit: If you use ice wall make sure you have it up before the wiz casts fear on you.