Having spent his managerial career until now at Watford, Reading and Swansea, Rodgers is used to working under a much tighter budget than at the Anfield club, but he admitted he will not be gung-ho with regards to transfer fees.
Since joining the club from Swansea at the beginning of the summer Rodgers has spent around £27 million on Fabio Borini and Joe Allen, but when asked if he was willing to pay over the odds for players he had a resounding answer.
"No chance. Certainly not with me," he told reporters. "In professional and social life, I like to get value. That is just my nature and just my upbringing.
"I won't pay 'anything at all costs' - absolutely not. If there is a player out there who can make a difference, we will do all that we possibly can to bring him to the football club.
"What I won't be prepared to do is waste time, money and effort to bring in a player who won't add value to the club. There have to be certain factors to make a player want to come and play for you. Unfortunately for people, money distorts the reality.
"I prefer the hungry player - those that want to succeed. Of course they will earn good money, and they will get their value and worth if they perform. I would rather work that way."
The 39-year-old noted that he concentrates on the value of players when bringing in new signings, while hard-working players from lower leagues are personal favourites of his as they reflect the history of Liverpool’s transfer policy.
Rodgers said: "I am very much conscious on the value and worth of players. There's no doubt there are top players who have earned every single penny they get, but you can also get certain types of players for less.
"The problem sometimes is there's a snobbery towards players at a lesser club. It's an ignorance.
"You get scouts at a big club who see a young player and think maybe he can't play. Then he will go to a big club and all of a sudden they want him. It's about making those decisions earlier.
"Look at the squad here, and there aren't too many who have dropped from heaven to play for Liverpool. A lot have come through lower clubs, made their way and now they are making their name at Liverpool.
"There's no doubt I want to get the best players I possibly can, and that costs money.
"When you're not in the Champions League there is a restriction in terms of what you can spend and I know that. I was fully understanding of that before I came in.
"When players come here, it should be the beginning, absolutely. If you look at the history of the club, it is about hungry players, coming in from the lower leagues, from clubs in Scotland and Ireland, and working their way up.
"That has been the ethos of the club - talent aligned with hard work takes you a long way. I just want to maintain that spirit within the club. I like to think I practice it myself in the club.
"I find it difficult to work with players who don't share and match that."
Liverpool managing director Ian Ayre had stated that the club almost went bankrupt before John W. Henry and Thomas Werner bought the club in January, a fact Rodgers finds unbelievable, and he is adamant a similar situation will not arise while he is there.
Rodgers continued: "It's incredible this club came close to bankruptcy.
"This is Liverpool Football Club. You may think it will never happen to your club, but who would have ever thought that could happen to a team like Glasgow Rangers?
"But listen, if football continues to pay the wages that some clubs do, then you will be asking for it. That is the way football is right now.
"Who would have thought that a club like Glasgow Rangers would fall apart?
"If you believe that it can't happen... well, it can. It might not be now but it could be later on. You can never say that it will never happen.
"Look at that club's [Rangers] history and where they have been in the game. That is a warning for everyone."