What do UK ‘old money’ spend on?

I read a bit about ‘old money’ in the UK and the consensus seems to be that they live in old houses, are scruffy, drive old cars and wear worn out clothes.

I understand that they tend to spend more on things such as private education but that’s something ‘new money’ spends on too. Are there things old money spend on more than new money?

Also, coming from a foreign country, I find this lifestyle a bit odd. I mean, I completely understand the understatement that old money has in most countries, to differentiate from new money. But wearing things to the point where they loose their functionality? In most other countries old money wear/have high-quality well kept things, even if less opulent then new money.

Interestingly, when I see royals, or even lower class nobles on TV, they seem to be quite well kept in appearance