The 31-year old Nigerian superstar sympathises with the clubs precarious financial position although he believes that the club will get left behind the other teams if they don't spend money to improve their squad.
Trotters boss Allardyce has developed a reputation of bringing good players into the club on the cheap but Okocha feels that one day the bargain basement players will be harder to find.
"If we want to keep up there with the other teams, we have to spend, In a way, it's unfortunate that the manager has developed a reputation for achieving success with nothing.
"It might work for a while, but we need to change our reputation and invest. We can't keep expecting miracles and, to be honest, I wish we could bring in more players. There are still two weeks to do that and it would certainly ease my job a bit. If you look at our financial situation, though, it is just not possible to spend a lot of money on players." he told SKY Sports