The Gunners paid over £30 million for Alexis Sanchez in the summer and around £45m for Calum Chambers, Mathieu Debuchy and Danny Welbeck, but the squad has struggled with injuries so far this season and sit in seventh in the Premier League heading into Sunday's clash with Liverpool.
Wenger was criticised for not buying central defenders or defensive midfielders during the close season and has earned a repuation as a reluctant spender over the years, something he puts down to the financial constraints of moving to the Emirates Stadium.
But after having to field a makeshift defence in recent weeks thanks to mounting injuries at the back, he confirmed that he will "without any doubt” move for a defender in January if he can find the right man.
“There is a huge difference between the perception that people have of me and [the reality]: I’m not scared to spend money,” he told reporters. “If you go out with me one night, you will understand that.”
“What I don’t like is to spend money that I don’t have.
“Now I have money so no problem spending it at all. What I fought against was spending money that would have put the future of the club in danger.”