The Villans currently sit 18th in the league, but the 43-year-old is insistent he will only sign players who he believes can improve his squad.
“There is a chance of no signings at all,” he told reporters. “There is also a chance you might try and get someone in so it works both ways.
“We’d try to do something if I thought the people we could get in would make it better. But if we can’t do it and I have to go with the group that’s there, then I’ll go with what’s there.
“What I don’t want to do is fill the place with people I’m bringing in just for the sake of bringing them in.
“It’s the wrong thing to do for this club. It’s wrong if they’re no better than the ones who are already here. I have to bring in people I think will make a major impact.
“A £15 million spending spree is not on the agenda, nowhere near it. Loans are not something I’d disregard. I’ll just have to wait and see on that as well.”
Lambert maintains that he is under no illusions of the financial situation at Villa Park, and was always aware that he would be working under tight budget constraints.
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He explained: “I knew it needed rebuilding which was the great challenge. It’s not something where I’m sitting , thinking: ‘I can’t believe the way it is’.
“I love it, love the challenge of it. I love the pressure of it, love the challenge of it and it’s something you’re determined to get right because if you do you know this is an unbelievable club.
“I understand people who say it wasn’t right five, six, seven years ago. It’s always been a big club. But I’ve been brought in to try and rebuild it and get results while doing it.
“And it does take time. I think someone said the other week it might take you three-four years, to do it. Whether I get that time – I understand what they’re saying.”