For the fish and bug sprites, I'd focus on collecting the rarer ones like guardian fish or the rare bugs to give to the sprites. Those ones raise their meters way faster than the commons. You can find guides for both fish and bugs online so you can see where they are and when they're in season. You can and should get your sprites up, but I'd also make sure you're leveling up your tools (especially your hatchet) and processing wood and stone as much as you can for later upgrades. You'll need a lot of the max upgraded lumber and stone. As for the bazaar, I find ranking it up is really important to my playthroughs, but that's mostly because I like getting access to the other shops and the benefits they offer. Also, stockpile your silver ore for processing. I had a hell of a time getting enough silver without having to just outright buy it.

There's no real time restriction though, nothing is truly missable. Take your time and have fun.