I disagree with John and anyone else that says it can't be done safely or properly.
I've done the whole gammit from cutting springs to torching the spring while it's still on the truck to lower it. While I don't recommend torching them, it can be done by an experienced person with good results. It's safer and easier to just take them out and cut them if you can't afford to replace them with lowered springs.
Cutting springs will affect geometry to some degree and you'll get things like 'bump steer', but it's perfectly fine to do a small lowering job of 2" without major adverse effects as long as you get an alignment afterwards. To get more extreme you can get lowering spindles which will help you keep the geometry but give you a lower stance however, if you use both you'll again run into slight bump steer if you hit a speed bump too fast or something similar.
I have 2-1/2" lowering spindles + 2" drop springs in front and 5" drop springs in back. I have a 1-1/4" sway bar in front and a good set of shocks all the way around and my truck handles way better than my Camaro, lol! Occasionally if I hit a speed bump too fast I notice very slight bump steer, but otherwise my truck is perfectly safe in that regard and I've had 0 problems as a result. Feel free to ask any other questions and I'd be happy to assist you.
