BTW: good call on the Squire. They make really great guitars, for the money. Even though I own the US '57 Strat in my photo, I play my Squire daily.
Here's a couple of tips. Cheap guitars tend to have crudely finished fret ends, which makes them uncomfortable to play. They tend to stick too far (called 'fret sprout) and be rough. Get some painters tape, an emery board, some 400 wet or dry sandpaper and steel wool. Mask the wood so you don't mar and cover the pickups w/ tape, so the magnets to not attract filings. Smooth and round out fret ends. And give frets an overall polish w/ steel wool.This takes time but is not hard or require any special skill. A fret level and re crown, is tricky stuff.
Watch some youtube vids on setup, getting string height where you like and then intonation. I'd take a well setup cheap guitar over pricey one that is not. It will be easier to play, and sound better.
Above all, have fun.