It as been suggested that Hughton will need as many as 10 new players to keep Newcastle up next season but he will clearly not be setting his sights high following discussions with Ashley and club managing-director Derek Llambias over his transfer kitty.
Related ArticlesMoore: Newcastle's new goal should be modestReading 1 Newcastle United 2Ameobi: Newcastle must retain winning mentalityAshley's gamble pays offNewcastle revival timelineNewcastle need reinforcements'As per normal these talks are ongoing with the chairman and the owner but we know they are different times these days,' Hughton said.
'I think certainly the days of the sums of big transfers and the big transfer kitties not only for Newcastle but for everybody they are a thing of the past. I think you have to spend and look to improve but you have to do it wisely.
'What I am conscious of is that we have a real competitive squad that has generated a really good momentum this season and what we have had is players who have also developed this season and there is a group of lads and a squad that I have that deserve an opportunity.'
Should Ashley need any encouragement when it comes to spending, it may come from the supporters who have turned up in their droves despite the club's relegation last May loyalty that has not gone unnoticed by Hughton.
'The fans have been brilliant from day one,' Hughton said. 'First and foremost they support their team and a side that went down a division could possibly have expected a tail-off of support but we have had an average support of over 43, 44, 45,000.
'That is outstanding for the division we are in and for the times we are in. They want to see a team that is trying to win matches and is winning.
'They have been right behind us particularly away from home. Plymouth will be the longest trek for them but I am sure you will see a similar level of support to wherever we have travelled.'
With next season in mind, Hughton has challenged his Championship leaders to maintain momentum right until the end of the campaign even though the title could be sewn up this weekend, ahead of Monday's visit to Plymouth.
'We know it is going to be tough next season but what you want to be able to do is go into a tough season with good momentum from the last season which is why it is important for us to go on right through to that last game,' Hughton said.
'The important thing for us is that we have, of course, secured that promotion place but it is about competition for places and keeping momentum going through to the end of the season.
'We have other targets which are appropriate for this group of lads and what they have achieved this season.'
Newcastle's resurgence has not been completely straightforward and a training ground bust-up between Andy Carroll and Steven Taylor that left the latter with a broken jaw threatened to undermine the promotion push last month.
No one from the club has commented on the incident but Hughton has admitted the club's on-field success made the matter easier to deal with.
'What you have in a season is that you will have problems that you have to deal with. that is the norm and that will be the norm in any season you have,' Hughton said.
'Unfortunately some of the problems get out and some of them don't. That would be the norm at every club.
'The ideal way is to keep everything in-house. Sometimes that is not possible. But also you know that when things are going well you can ride things easier than when things are not going so well. We have been fortunate that things have gone well for us for most of the season.'