Swansea City manager Graham Potter says there is no "pot of gold" to spend in the transfer market.
West Bromwich Albion and Stoke City were relegated alongside Swansea from the Premier League last season but have been spending more in the Championship.
Swansea have just offloaded Andre Ayew to Fenerbahce but Potter says Swansea will not be "waving a cheque book" in their transfer dealings.
"There's not a pot of gold," said Potter.
West Brom have spent more than £10m so far this summer, while Stoke have brought in players costing more than £20m, including Tom Ince from Huddersfield for £10m.
Potter says the club do not have the same financial resources and believes making big money signings has not proved the answer.
"If you look back the club have spent money so that in itself is not the solution," said Potter.
"On the one hand people say we've wasted money so obviously it's how you spend it, the people you bring in and the players you bring in and we have to line all that together.
"It's not just waving a chequebook around to solve all the problems because if it was, we wouldn't be in this situation now."
Swansea start their Championship season at Sheffield United on 4 August and have so far had limited dealings in the transfer market.
Potter says they are hopeful of making some signings in the next week with Swansea having completed the deal to bring winger Joel Asoro from Sunderland on a four-year deal.
The Swansea manager also has not ruled out the possibility of more big names leaving with defenders Alfie Mawson and Federico Fernandez linked with moves away.
"When the window's open there's always speculation," Potter added.
"There's nothing to report but there is interest and speculation I would say.
"Also we will be working ourselves to bring in additions because you just have to do the maths when there's that many players moving away then you have to bolster the squad."
So far this summer, goalkeeper Lukasz Fabianski was sold to West Ham and midfielder Roque Mesa joined Sevilla.
Chairman Huw Jenkins has been criticised for the club's transfer dealings in the last couple of years and there will be no big influx this season.
"It's the reality of what has happened in the last two or three years," said Potter.
"It's not for me to be critical at all but the team has tried to stay in the Premier League and there has been changeover in terms of leadership and management.
"So in that environment decisions are made and we are adjusting to that now.
"We have to face the fact we aren't in the Premier League any more and have to try and build a team now people are proud of and identify with and try to win some football matches."