With owners Fenway Sports Group looking to run the club on a more sound footing with Financial Fair Play in mind, the Reds are never likely to be in a position to compete with Europe's biggest spenders.
While the Americans have provided funds for significant purchases in the past, there is still a desire to see more value for money attained in the transfer market.
So with the likes of Raheem Sterling, Andre Wisdom and Suso all making significant contributions to the first team this season, the intention is for the club's academy to play a bigger role in the future.
Jones believes this, added to the progress made under manager Brendan Rodgers, points to a brighter future as they look to regain Champions League status.
"It is difficult to say (how much ground we have to make up)," the Australian, speaking at an event for charity Anthony Nolan, told Press Association Sport.
"The likes of Chelsea and Manchester City have spent unbelievable amounts of money. Liverpool haven't necessarily done that.
"It was documented a couple of years ago when the new owners came in and spent a fair bit in one go but you have to remember £50million of that came in from Fernando Torres.
"If you ask the teams that have, shall we say, `bought' a winning team I don't think their fans will care because they have won something.
"But if you get to the top from building I think the fans grow with the team. When you get there there will be that extra bit of pride but for us we just have to keep building on what we have got and what the club have done."
- Sports & Recreation
- Fenway Sports Group