A comfortable victory at Charlton and a late slip up from Watford against Sheffield Wednesday clinched Bournemouth the Championship title

Bournemouth manager Eddie Howe says the Premier League new boys will not spend exorbitant amounts on transfers for their first season in the top flight.

The Cherries won the Championship title at Charlton on Saturday, having already secured a place in the top division.

Promotion will see them earn in the region of £120m but Howe says the club, who were close to liquidation in 2008, will be prudent in their spending.

"We will not pay silly money," Howe told BBC Sport. "We just can't do it."

Howe's Championship-winning side has been assembled on a modest budget, with the summer arrival of forward Callum Wilson for an estimated £3m a club record.

Bournemouth's manager says he will look to improve his squad, but that the majority of his side will be given the chance to prove themselves in the top flight.

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The Cherries are owned by Russian millionaire Maxim Demin, but Howe says there will not be a major spending spree over the close season.

"We are going to have to be very creative with the players we do sign," said Howe.

"We are looking for players who can make our squad better and that was going to be regardless of what division we were going to be in.

"Maybe the only thing that changes is the pool of players who find us attractive is larger. We won't do anything too different to what we have been doing.

"If we go after Premier League players we will not be able to afford them, I think our market of players will be a different pool to the majority of other clubs."

Howe says planning for their first ever season in the top flight has already begun and urged his squad to "dedicate themselves" to the cause over the summer.

And chairman Jeff Mostyn, who helped save the club from going out of business in 2008, has backed Howe to act with due care and consideration in his recruitment.

He also reiterated the club could not afford to go on any sort of wild spending spree.

"Eddie is probably the exception amongst managers in that when he's spending money he believes it's his own," Mostyn told BBC Radio 5 live.

"Despite rumours to the contrary we haven't spent large sums of money - we have a mediocre budget.

"We haven't really sat down [to look at budgets]. There's a great deal of superstition around the club and until Monday we didn't know we were going to be promoted.

"Eddie in particular will sit down with Maxim [Demin] and have a look at what he needs.

"Most people would believe that to compete in the Premier League you need to strengthen the squad but it'll be done with a great deal of thought and consideration rather than buying players who are suddenly released and available."