He told The Telegraph: "You have to spend money but not throw it around, in professional and social life. I like to get value, that is just my nature and my upbringing. I won't pay anything at all costs, absolutely not.
"It is about quality, I had a team last year that was worth about £17m and we were the talk of Europe. When you're not in the Champions League there is a restriction in terms of what you can spend and I know that."
Rodger's takes charge of his first Premier League game as Reds boss against West Bromwich Albion on Saturday.