I think there was a bigger divide between rich and poor in the 80s so it seemed more noticeable/obvious than the 70s.
I consider myself to have come from an ordinary/average family (in the 70s).
We had:
Camping holidays. Didn't go abroad until the 80s.
Basic ordinary food that was available from the local greengrocer/fishmonger/butcher with the small supermarket for things like frozen lollies/fish fingers/cat food.
Hand me down coats/bikes/clothes. Clothes were there to clothe you not fashion you except for very special occasion (Christmas and birthday). It was jumpers and jeans and nothing particularly nice coloured either, just season appropriate. So if it was cold you'd put on a (basic, knitted usually hand knitted) cardigan on top.
Presents were things like board games and felt tips and Girls World stylers and a Sindy doll (not a Sindy house, that was for more moneyed people).
Expectations were totally different. Whereas in the 80s with the advent of Yuppies (remember them?! Young Urban Professionals or something?!) that's when this glamorous, business suited and booted type look came in to play and it was more about being seen. Video recorders became more available in homes and home rental movie market meant you could see more of the world than what films were selected to be shown on BBC 1, 2, and ITV.
So I guess there might have been less disposable income but there was less to spend it on and far less expectation to have this, that and the other. And less knowing it was out there in the first place so there wasn't as much aspirational acquisition as there is now.