What happens if you spend the money in your wallet that is allocated to channels?

On Umbrel dashboard that is total balance you have in your node (onchain and LN channels).
If you go to Bitcoin and Lightning section wallets you will see a different balance for each.
I suggest also to use RTL and Thunderhub apps from Umbrel, will give a more insight about these aspects.
Please read this Getting started with Umbrel node guide - it will answer many of your questions.