"City are where they are because of Sheikh Mansour and Chelsea thanks to Roman Abramovich," Redknapp told The Sun.
"We have not done it that way and it makes me proud. You don't have to go out and spend fortunes to find good players.
"Spurs are not third in the Premier League because someone has walked through the door at White Hart Lane and slapped a bundle of money on my desk."
Redknapp expressed his disbelief at the sums of money that Manchester City can spend on player wages.
"City can pay players £200,000 a week, it's unbelievable," he said.
"Manchester United wanted Samir Nasri but he blew them out for City.
"The people running Spurs have invested wisely."
Tottenham travel to Manchester City in the Premier League on Sunday, January 22.