Maybe in some places??? I am an 80s kid, and was raised with what we'd call something like lower middle class. Neither parent has a college education, worked minimum wage, and owned a home and fed 4 kids. We didn't have as much stuff... But we sure were outside and playing a lot more back then.

I lived two decades before 1990.

Life was better then than it is now. But the 1990s were arguably the high point.

How was the standard of living lower?

Mostly what I can think of is access to medical treatments developed in the last few decades. Comforts like A/C are more widespread now (but they were less necessary when we were under 400 ppm CO2).