Now that you've setteled into your new home, you'll need to start earning some money to buy new clothes and furniture... and pay off your mortgage. To do this you'll need to buy some equipment. Namely a shovel, a net, an axe, and a fishing rod.
Shovel (500 bells)
The first item you should get your hands on is the shovel. This item is used for various things such as digging up burried items (sush as fossils, bells, and gyroids) and then re-burring them, all of which can be sold to Nook. But possably more importantly, it's used for plating fruit to make fruit trees to get more fruit for selling. Your first payment will largly be payed off by using the shovel.
Net (500 bells)
The net's primary use is for catching insets which you'll find flying or hoping around, or occasionaly hiding on trees or in bushes, and Nook will buy these criters off you. The second use is for cathing present boxes which will occasionaly float through the town. These boxes can contain almost anything, but usualy furniture.
Axe (400 bells)
The axe's only use is to cut down trees. You may need to cut down trees for various reasons, but you'll need an axe to do it.
Fishing Rod (500 bells)
The Fishing Rod's obvious purpose is for fishing. You'll see dark spots randomly in the river, lakes, and even the ocean. Just cast the rod near it and hope you can real 'em in. Fish tend to go for high prices over at Nook's.
Sign (500 bells)
A sign is handy if you ever want to put up a picture or message somewhere through out your town. Simply erect it where you want, and place a paturn you have and you're all set to go.
Umbrella (various prices)
The umbrella really serves no purpose other then for looks. But, your neighbors will notice if you're not using one while it's raining.
Stationary (various prices)
You'll want to always have some staionary around for the purpose of writing letter to your neighbors or even other players. If you don't have many bells, there's usualy some sitting in your town dump.
Notebook (various prices)
The notebook serves 2 purposes. One is that it cane be used as a diary of sorts allowing you to write a message in it for each day. The second is a calendar which will let you see upcoming events and holidays.
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