Like many recent college graduates, Daniel Valentino realized quickly that landing his first real job was only the first of several critical financial moves he will make during his first year out of school. He wants to pay down his debt, buy a new car and move out of his parents' home.

"I plan on moving out by the end of the summer after working for two or three months to save some money and put a dent in my loans," said Valentino, 24, who got a job as an accountant at Belfint, Lyons & Shuman in Wilmington, Del.

But making the most of those first real paychecks can be tricky without a specific plan. Experts recommend putting together a detailed budget, prioritizing expenses and setting aside money for emergencies and the future.

Kimberlee Orth, senior financial adviser at American Express Financial Advisors in Wilmington, offers this advice to recent graduates: "What I want you to do first is get your budget set up."

Figure out how much you are earning after taxes and how much you will need to pay for health insurance, student loans, credit-card debt, rent, food, gas, socializing, etc. The more detailed the budget, the more useful it will be.

"I got a mortgage payment, I got a TV bill, I got grocery bills, electricity bills and instead of a home phone, I got two cell phones, and I got a girlfriend — that is very expensive," said Vincent Giobannozzi, 18, who is in his second year in an apprenticeship program with Plumbers & Pipefitting Local 74.

After graduating, Giobannozzi's aunt lent him some money to buy a two-bedroom trailer in Bear, Del. "You save a lot more money living in a trailer," he said. "And when I come out of living in the trailer, I can sell it. You can't sell an apartment. You don't own it."

Once you figure out a budget, experts suggest you take full advantage of your employee benefits. Begin participating in your company's 401(k) plan as soon as possible, and try to contribute at least as much as your company is willing to match, which is typically 6 percent.

Saving up for an emergency fund is equally as important. Experts recommend saving enough to cover three months of living expenses.

"Young adults graduate from college typically with debt and no cash reserve," Orth said. "It is important to have some sort of emergency fund."

Giobannozzi already has experienced the difficulties that can arise from not having extra cash saved. He recently got laid off temporarily — which occasionally happens in his trade — and had a tough time paying his bills. Fortunately, his union has found him another job.

One simple way to save money for emergencies is to have a certain amount automatically deducted from your paycheck and deposited in a savings account to which you don't have regular access.

Adam DiMedio, 23, a Belfint, Lyons accountant who is paying rent while living with his family in southern New Jersey, is setting aside money for an apartment in Philadelphia. Living in Philadelphia will be more expensive, but he expects to save about $60 a month in bridge tolls, and he plans to get a roommate. He also plans to bring his lunch to work more often.

"Right now I have to save up for the first and last month and the security deposit," he said. "I want to live there for a year or two, and eventually save up for the down payment on a house."

Setting a budget, saving money and generally being fiscally astute are key to getting a solid financial footing in life. But new graduates also should consider adjusting their lifestyles from what they were used to in college or high school.

Frances Katzanek, author of "Reality 101: The Ultimate Guide to Life After College," says drinking less, sleeping more, having a reasonable diet and making time to exercise will help a new graduate adjust better and succeed in that first job.

"It is definitely a change going from school life to work life," DiMedio said. "You have to budget everything that you do."

Stretch salary, make ends meet

Tips for stretching the cash from your first real job:

Create a budget. Know what's coming in and what's going out.

Match your company's 401(k) contribution.

Pay down your credit-card debt. Start with the one with the highest interest rate.

Create an emergency fund to cover at least three months of living expenses. One idea: Start with the cash gifts from graduation.

Automatically deposit a portion of your paycheck into a savings account.

Pay your student loans on time.

Be thrifty. Make your lunch. Watch for sales. And Bankrate .com suggests monitoring your cell-phone bill.