Eat what you want; just run it off.
This theory works perfectly as a young man...at my age (46), I need to be smarter about what I eat now AND still work out daily.
I started a cutting routine roughly a month ago. I've lost ~10 pounds (fluctuating between 10-15). Full body workouts with light-medium weight 3 times a week (workouts last about 1-1.5 hours), focusing on keeping the heart rate elevated, so lots of reps, less rest between sets. Other 3 days of the week are HIIT cardio for about an hour (for me, it's running).
Eat LOTS of protein, and I'm keeping my caloric intake at around 1000-1200/day (I'm 6'0, 225 so my "maintenance calories" is around 2800.
Sundays, my rest day, I just play volleyball for a few hours.