Michael Carrick believes Manchester United can compete for trophies this season despite being heavily outspent by their rivals in the transfer market.

On Sunday lunchtime, Carrick's side visit Everton whose calamitous summer window makes United's £155million midfield rebuild look like reasonably good business.

But they were eclipsed by the Premier League big guns, and even some of the newly-promoted teams, leading to concerns that Carrick doesn't have the tools to challenge for silverware.

However, the United boss insists that money isn't the only important factor, and is backing himself to get the best out of his squad after signing Carlos Baleba, Andrey Santos and Youri Tielemans.

'I certainly feel we can compete,' said Carrick. 'I think the challenge is just getting the right dynamics, the right balance, the right group together, the best players in the group to enhance the rest.

'The actual amount of money in the end, I understand it can be a big thing. It doesn't always have to be the answer, but it can be.

'It is what it is. I think we know what we have, and what we can achieve. Money is one thing. What you do with it and how you make the most of it is another thing.

'There's obviously some teams that are a bit further down the line than us. We've been here eight months or so, and some of the players have been here just not long before me.

'But it's up to us to do the work and get the best out of the group. We've got a fantastic group of players, and they've proved over a period of time now that we can put results together and play well and win in all sorts of different places and environments.'

Carrick was alluding to the upturn in results since he took over in mid-January and led United back into the Champions League by finishing third. The run included a 1-0 win over Everton on their first ever visit to the Hill Dickinson Stadium in February.

'There's a freshness and an excitement around the group, which is really encouraging,' said Carrick, whose next game will be against Sabah in the Champions League on Thursday. 'There's a hunger and a feeling of wanting to achieve something.

'I'm glad the players feel that way, that they've got that confidence. Very recent history is as much as anything for the boys to feel it.

'They know what it's taken to put that run together. Granted, there was one competition, and we need to do that an awful lot more this season, but we have strengthened the group, so we feel good about what's possible.

'We know the challenges that we face, of course we do. It's not an instant thing, but I think we're moving in the right direction, that's for sure.'