First of all please don't cut the springs!!!!!
Just wait until you can afford the real ones....
I personally would NOT drop it lower then 2 inches all the way around. I have dropped both my ponys in the past (one at 1 1/2" and my current one at 2"). The 2" drop gave me an awesome stance. I had to roll my fender well lips up inside cuz my tires would rub it when I would hit a bump. If you drop it lower, you'll run into more problems.
Aslo, it's a good idea to get a set of caster/camber plates. I figure if you can't buy the real springs now, you won't be able to afford new tires every month or so. They help you align your front end correctly so you don't chew up your tires.
I have a set of Eibach sport 2" lowering springs for sale. If you are interested just give me an IM
