Although I'm a beginner at Do-It-Yourself projects, I found this really helpful online tutorial from Dacia Ray with directions on how to hem jeans while utilizing the original hem. It sounded so easy, I was willing to give it a shot with a pair of jeans that I got from Target (yes, Target...they are really cute). I figure with a price tag of less than $30, I couldn't really do that much damage.
I followed the directions exactly and my pair turned out really well - I've been wearing them all the time, and I've gotten a few compliments! It's definitely worth a shot, especially to save some money.