Finishing hems with bias tape is a great alternative to folded hems because your original garment length will remain. See how to sew bias tape the easy (and correct) way.
Bias tape can be purchased already packaged at craft and fabric stores or online in different colors and different widths. however, you can also make your own bias tape with a cloth of your choice. There are different ways of sewing bias tape but this is the easiest and the correct way of sewing bias tape. HERE is the tutorial.