Hodgson has done a remarkable job in stabilising Palace on a very tight budget, with £19million signing Eberechi Eze the only real big-money addition made since his arrival in 2017.
"This will be a good summer, in my opinion, to look into that aspect," Hodgson said.
"Staying in this League doesn't get any easier. It might be easy for Man City, Chelsea and Man United but for a good 50 or 60 per cent of us we don't regard it as easy.
"Even teams who sometimes reach as high as seventh or eighth in the League are still concerned that if they don't get it right the next year they could be down the bottom.
"Sheffield United are a pretty good example of that, Watford the year before. At the start of their seasons nobody expected Watford or Sheffield United to go down, it can happen because that is the strength of the League.
"If you don't want it to happen to you then you can't be blind to it and say: 'We'll be okay, we've had eight seasons here we'll be fine.' You can't say that, you have to make certain that you are as well prepared going into the ninth season as you were going into that first season back nine years ago."