Need help picking out a bag

I love all my cute purses but I've been getting a bit tired of having to carry multiple bags in order to take my sketchbook and water bottle (small sized) with me when I go out to sketch things. I've been using a tote and it works, but I still need to carry a separate purse that closes to feel comfortable taking my keys and wallet. I'm looking to get a cute bag that closes, that can handle mild but frequent use and will fit both my sketchbook and my small budget.

So far I've been looking at this:
http://item.taobao.com/item.htm?id=6133428011
But it's hard to tell if it will fit what I need it to and I've never owned one of their bags so I don't know about the durability/quality. If anyone could direct me to a review, give me information about this bag, or suggest something else around the same price range I'd be very very grateful.

Thank you!