An improved second half performance was not enough for Solskjaer’s men to get maximum points against the Blades.
The Norwegian coach has won just four games in 13 league matches and United currently sit 9th on the Premier League table.
Neville believes the current Red Devils’ squad lack the experience to churn out results in the Premier League.
The 44-year-old has insisted that his former team-mate must demand financial support from the board to sign much more experienced players, if he wants to save his job.
"Ole Gunnar Solskjaer has to go and spend the club's money in January, for himself," Neville told Sky Sports' Monday Night Football.
"He has to go and spend the club's money on two or three experienced players, he must demand it.
"He's not going to be there to see the fruits of the labour that he's putting in, the foundations he's laying, because there's a lot of good young players out on that pitch, that I actually enjoy watching."
He added: "Ole's going to have to be selfish, he's going to have that ruthless streak that a [Jose] Mourinho has, or [Antonio] Conte has, and spend the club's money to protect himself.”
"Put two or three experienced players in amongst that group and they could come alive, who knows what they could become for the club.”
“But they need good, experienced, top quality players in around them, because they don’t know the game at all yet, especially away from home.”
