Wenger's comments came at the Arsenal Annual General Meeting after The Gunners broke their transfer record by £27.4m with the £42.4m signing of Mesut Ozil in September.
However, Wenger dismissed the possibility of this becoming the new team strategy.
"The future of this club will rely on the quality of the work we do here inside -- in developing our players and scouting with quality," he said.
Wenger pointed out that in addition to getting the German, the team also signed 18-year-old rookie Serge Gnabry this season. Other players that have been developed by the club including Kieran Gibbs, Carl Jenkinson, Alex Oxlade-Chamberlain, Aaron Ramsey and Wojciech Szczesny are also in this year's roster.
"Of course when it's needed we will put big numbers out and buy the players -- but that cannot be the base of the stability of our club," Wenger said.
While speaking to shareholders, the manager said he was confident the team would maintain their title challenge.
"We went through a period when we had to be very tight financially, but came out of that with huge stability and now results," Wenger said.
"I believe our future is very positive. The Premier League is very tight this season but I am convinced we have the team, attitude and desire to do it.
He added that the team's strategy will consist of continuing to defend their style of play, development of the team and to scout and buy recognized players.
"The third part of our ambition is to scout and buy recognized world-class players," he said. "This season we have bought Ozil -- you don't need any scout to buy Ozil, you just need money."