As one example, food generally costs less now, and there is a lot more variety. Other things cost more (like houses) proportionally, but you also get a lot more. And, there are just more things to buy (extra cars, TVs, computers, phones, etc).
Was the minimum wage ever really something people lived on? What I mean is, back in 1963 was there a man with a family to support out there making minimum wage? Or was it just for entry level and new workers, like it is today?