I work in high-end luxury retail. 80% of people buying $3,000 designer bags are splitting the payment across 3 credit cards or 12-month BNPL installments. The truly wealthy wear unbranded cashmere and drive old Volvos.
Loud insecurity vs quiet comfort. Middle class buys giant monograms to show they aren't broke; old wealth avoids logos so people don't ask them for capital loans.
Old money aesthetic isn't a deliberate lifestyle choice for them, it is just generational indifference.
Saw a Swiss billionaire in 15-year-old beat-up Tod's driving a 1998 Land Cruiser. True wealth has nothing to prove to strangers.
Taking out installment loans on consumer items that lose 40% of their resale value the minute you leave the boutique is peak financial illiteracy.