I think all the evidence suggests that while more money comes in when you get to the Championship, if you want to compete at that level a lot more money goes out! No division in world football hemorrhages cash quite like the Championship!
But seriously, what is wrong with effective wheeling and dealing in the loan and free agent market?
You don't need to spend money to win in League One. Plymouth just won the league and they didn't spend any cash until January (and only a modest amount then).
Does it makes things easier if you spend? Probably. But it also makes it that much worse if you **** it up.