Factual error: The movie takes place in 1994 but features the song "Hypnotize" from Notorious BIG, which didn't release until 1997. (00:54:36 - 00:55:11)
Factual error: Kris is playing the original Gameboy and says he can't beat Bowser. No Mario game released before 1994 for the original Gameboy featured Bowser as a boss.
Factual error: Early in the movie you hear the main character say "Show me the money, show me the money" - an obvious reference to Jerry McGuire, which didn't hit theaters until December 1996. This movie is set in 1994.
Factual error: The kids' walkie-talkie is able to be heard static-free thousands of miles away. When I was a kid and had that walkie-talkie, I was lucky to understand my buddy half a mile down the road.