The Emirates outfit have come in for criticism following Saturday's disappointing 1-0 Premier League loss at Fulham.
"The first lesson is you don't necessarily do everything the fans want you to do," Hill-Wood said in the Daily Star.
"I am a fan too and I would love to have a squad that is much better than everyone else's.
"We are very nearly there, but not quite. I think we are quite happy - we are not going to buy somebody who doesn't improve the squad.
"I keep saying money is available but I am not going to say how much. But it is enough to buy an experienced international player.
"We have won one match and lost one in the league and hopefully we will be in the draw for the Champions League.
"We didn't play well at Fulham on Saturday but I think all this stuff about us having to buy a complete lot of new players is rubbish."