Alberto Moreno has claimed that Liverpool's rivals for the Champions League places have "bigger budgets," but the Reds can still succeed.
Brendan Rodgers' outfit followed up their runners-up finish in the 2013/14 season by finishing in sixth last campaign, with the pressure on to qualify for the Champions League again.
They have spent £77.5million on seven players in order to assist their aim of returning to Europe's top table, a figure which far outstrips that of champions Chelsea (£12.5million) and Arsenal (£10million), and ranks just above Manchester City (£65million) and Manchester United's (£76.1million) spending this summer.
The highest-spending side so far this summer, only Chelsea and United spent more in the 2014/15 season than the Reds, with the former representing the sole club who have spent more on players than Liverpool over the past two seasons.
Regardless, Moreno claims that although Liverpool are aiming to seal Champions League qualification again this season, they face an uphill battle as the current top four all have "bigger budgets".
"Our target is to finish in the Champions League places and lift a trophy," the left-back told Spanish publication Marca. "Liverpool haven't won anything since 2011-12 and our dream is to put that right. The people here deserve it.
"We have a young squad who can achieve big things.
"It's a tall order because Chelsea, City, United and Arsenal have bigger budgets, but we're not ruling anything out."
After coming in for heavy criticism in his debut campaign last season, Moreno was dropped for summer acquisition Joe Gomez - a centre-half by nature - for the opening game of the season at Stoke.
The Spaniard, 23, has admitted his first season at Anfield "was difficult", but he remains confident of retaining his place in the Reds' backline.
"I'd like to be a regular in the starting line-up, to play as many games as possible and for the fans to enjoy watching me," he added.
"The first year was difficult because of the language issue and moving away from home, but I made 41 appearances, which is pretty good for my age and a club of Liverpool's stature.
"Maybe the defensive aspect (is more difficult). This league is very physical, you're up against really fast and incisive players. In Spain it's more tactical and positional."
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