Not that its a tough battle but if, for some reason the peddler in the square shows up with something you really want, and you can buy it but can't beat his monster, don't despair. If you are interested, but don't want to fight the monster, he will give you the option to buy it for full price.
Also if you get the nunchuk or whatever and your good monster is in the freezer, you can go get him and return and the item will be there. He stays for the month once you trigger him.