The past two F1 races saw just 18 cars take to the grid after Caterham and Marussia both entered administration, although the former will participate in Sunday's finale in Abu Dhabi after raising money through a crowdfunding project.
With the likes of Sauber, Lotus and Force India also reported to be struggling financially there has been a call for the sport to do more to share finances equally so as to ensure the back-markers avoid economic trouble.
But Stewart, who acted as a team owner for three years with Stewart Racing - the organisation which ultimately evolved into today's Red Bull - believes the responsibility lies with teams themselves to do more to live within their means.
"What you've got to have is a very, very stiff budget. And you've got to have a very good chief financial officer," he told Perform.
"You don't buy what you can't afford. If you get into huge debt and you can't afford to pay employees that is absolutely unacceptable to me.
"There have always been back-markers and it is very nice that the general public have found money for Caterham to go to Abu Dhabi. But it isn't going to win the race.
"The chance of them picking up one point or two points might be practical and that might be valuable if they are capable of sustaining themselves through until next season.
"You can't be penny-wise and pound foolish, you've got to manage your finances you cannot not [pay your employees] you can't not pay your debtors.
"There will always be people making up the grid but that doesn't mean they should go bankrupt. They've just got to have better financial management."
The 75-year-old Scot also suggested that F1 will have teams that are more successful and sustainable than the rest, and feels that having fewer cars on the grid should not be ruled out as a viable option.
"Whether it comes down to three cars from the big factories, whether it be Red Bull, whether it be McLaren, whether it be Ferrari etc or Williams, just looking at the success Williams have had in the past, and they could easily be successful again," he added.
"I just think you've just got to play it as it is and if it is going to take having three teams lets have three teams.
"There are many times when I was driving racing cars where there was only 15 or 16 cars on the grid because some other people couldn't afford to go racing."
Sir Jackie Stewart is president of Dyslexia Scotland, and working with people to influence and achieve change at a national and local level. For more details, visit: http://www.dyslexiascotland.org.uk