Chasing a good deal.

• Position: MONEY

Gaby Yosca, 15, a sophomore at the Dalton School in New York, knows how to stretch a dollar. One hour spent in a Salvation Army store netted her several outfits and a book--all for $62.50. Tom Bettridge, Yosca's classmate, takes pride in vinyl records bought at a yard sale and a pair of thrift-shop trousers. And when Samantha and Ashlee Nola of Montgomery, Ala., shop for makeup, they head to the discount chains, where $20 buys far more than it does at a department store. Escalating prices and shifting personal values have prompted many young people to...