Falkirk manager John Hughes insists his club will be careful with their money as they begin to freshen up their squad for next season.

The Bairns' last game of this Bank of Scotland Premier League campaign against relegated Livingston was an unremarkable affair on Saturday in which striker Daniel McBreen's 74th-minute close-range header sealed the points for the hosts.

Hughes is turning his attention to next season - and although some extra money will be found for those players the Falkirk boss wants to keep, the books will be balanced.

He said: "I think there's going to be four players released, and we will be thanking them for their efforts.

"We will be looking to bring three or four players in and we will also be looking to keep players like Karl Dodd, Jack Ross and Jean Francois Lescinel.

"Whoever we offer a new deal to will be not be asked to take a pay cut. They will all be offered a wage rise, but we can only give them what we can afford."

Hughes is mindful of the need to retain a realistic financial policy.

"The board of directors are a good bunch of people and they are working very hard to make sure the club progresses," he reported.

"But you just need to look at Scottish football; if you go crazy and throw money at your club and let your heart rule your head then I think you are ready for financial suicide."

The Falkirk boss also accepts he will not necessarily be able to sign everyone he wants.

"We've been searching for players and we've had a few disappointments already - and I expect that," he said.

"I'm going to need a lot of luck, and one or two might have to be loans.

"But I get inspired by the young guys who come here. A lot of them haven't played first-team football, but we give them the stage to do their stuff."

Falkirk pride themselves on giving promising players an opportunity.

"I think you've seen that with Darryl Duffy," said Hughes.

"He didn't play much at Rangers; he came here and eventually benefited from it when he signed for Hull.

"I think you are seeing that with Patrick Cregg, Liam Craig and Stephen O'Donnell.

"So that's what we will try and do here again next season."

Livingston made their last appearance in the SPL, and the financial implications of relegation have been swift and harsh.

Manager John Robertson has already told three seniors and nine youth-team players they are being released, with more set to follow at the beginning of the week.

Midfielder Wes Hoolahan, who signed from Shelbourne in January, admits there is a sense of shock at Almondvale.

He said: "I'm sorry for the ones who are going, I just said goodbye to a few of the guys whose contracts are up; I'm sad to see them leaving.

"But I don't regret coming over from Ireland at all.

"I've made some great friends since I came to Scotland, and it's been great to play against Celtic and Rangers.

"It's just disappointing that we can't get to play against them next season."