I think a lot of the suggestions here are great ones, and I too would like to remind you to decide whether you're looking for an 80s aesthetic -- which will mean going with a lot of identifiable, popular styles associated with the time -- or a period piece. Looking at American Horror Story, it's very much an aesthetic, which communicates the time period it's supposed to be in but isn't beholden to it; for example, there was plenty of contemporary music in Freak Show, which was set in the 1950s. It doesn't make it less set when it's supposed to be set, but some people don't understand the difference between aesthetic and an actual in-depth period piece.
Styles and trends often associated with decades only tend to come about the midpoint in the decade. What we really remember about decades and identify with them tends to establish itself fully around the 5 year and continue on to the next 5 year. What most people associate with the 70s really was more predominant from about 1975-1985, for example, give or take some of those things. If your story were set in, say, 1982, you'd probably want to work in a lot more earth tones and pop culture elements like a lingering disco influence. In 1986, when your story is set, the 80s were really and truly in full swing.
I'd say don't beat yourself up over little mistakes, because it's more important to tell the story in almost every case and you're going to be fictionalizing most of it anyway. You could look at some films of the time, especially low-budget ones, to see what real people wore around that time and how they might have incorporated styles. A good many horror films also tend to feature people who might be glamorous, but in a realistic way rather than a manufactured, too-glossy "Hollywood" way; some of the Friday the 13th films, for example, feature such characters. The reason why I recommend horror is because they're generally not played up to be glamorous in look, so they tend to have a more accessible, authentic wardrobe and makeup. Lower-budget films also tend to have much more realistic styles with actors wearing the styles they otherwise would anyway in hair and clothes, sometimes even bringing their own clothes to set.
Last of all, but certainly not least, remember that even though there were loads of trends and stylistic influences from the time and identified of the time, most people were just fine wearing what they wanted and doing their hair the way they wanted. Trends affected what was easily available at any given time (the previous comment about glasses was a good note), but in 1986 you would still see plenty of leftovers from the things people had enjoyed in styles more associated with the 70s. It's also worthwhile to note that many people, as they get older, tend to latch onto something and aren't eager to let it go, so older people in your story might still be clinging to what they enjoyed in the 70s or even the 60s, either because they worked hard to get used to it then and still like it, or because it reminds them of happier times, or for any number of reasons. It's also worth noting that most people can't afford new wardrobes too often, so any average person will have all kinds of clothes that aren't the cutting-edge of fashion. Most people only have a few items riding on the current trend, with far more of their wardrobe made up of either fashions they prefer, timeless styles, or reliable old clothes.
It's also worth noting that sometimes, people want to engage in the fashions that are contemporary to a time, but they aren't able to until later, so they may end up looking like an anachronism and wearing styles years out of date, just because they missed the chance when they were younger or not economically able.
I'm kind of hesitant to recommend politics, unless it's a highly political story. It's very easy to make storytelling look dated (and not in the way you might want) or kind of trying too hard by attempting to incorporate lots of things that honestly, at the time, wasn't what average people even cared about from day to day.
Things to think about! Hope these help. 
