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prada deerskin tote eventually fold.It's even becoming cool to be frugal. The first video offers tips on how to create a prom clutch."It's a little tacky in the economic unrest to tote a big logo bag," said Holly Siegel, the site's senior editor. She said it's no longer about teens "one upping each other," but rather where they can get it cheap.Victoria Bradley, a 16 year old from Springfield, Mo., says the $80 she earns each month from baby sitting is being eaten up by more expensive school lunches, late night snacks with friends and stylish clothes.Now, she says, she and her friends head for the thrift store or just browse at the mall."I used to be able to buy a T shirt and jeans every couple of months," Victoria said, adding some of her friends are even "making their own clothes or altering their old ones to fit or look better."Victoria's mother, Michelle Bradley, said she and her husband cut back spending on themselves last year, and early this year also started paring back "frivolous" buying for their three girls."We have made a conscious effort to not use credit cards," said Bradley, who stopped paying for Victoria's text messages last month. The top priority is school supplies and choir fees.The job market for teens isn't what it used to be, either: Nathan Reeser, a Cincinnati 15 year old, lost his job making pizza four months ago and has had to cut back on spending. He's shopping more at Target and less at Abercrombie Fitch's Hollister stores."Now, I just get money from my parents, but they don't have as much because of taxes and everything else," he said.Teen hiring has slumped by 5 percent since March 2007, with many mom and pop stores, which typically hire younger workers, laying off employees. Hiring in the overall job market fell by just 0.1 percent during the same period.That's still not as bad as the 13 percent drop in teen hiring in the early 1990s. That means that if the larger job market mirrors the last teen hiring slump, "we're not out of the woods," said Michael P. Niemira, chief economist at the International Council of Shopping Centers.Economists say this teen spending slump could be the worst in 17 years, when teen frugality led to the demise of once hot