u sure its your water pump? u may have a leak in a hose, a connection or the radiator itself.. water pumps make bearing noises when they r going bad. eventually u wont be able to drive it even if u add water to it daily. throw in a thermostat while u r doing all of it.
since u have never done the timing belt, water pump, radiator before see if u can find someone to help u. its a messy job to do by yourself. u have a 5spd so u dont have to worry about transmission cooling lines to the radiator.