I think you could get away with cutting it if you were really that much in a financial bind. Although be very cognizant of where you cut and the angle you cut it at. Lastly be sure not to cut too much.
I'll be honest, I am not in favor of lowering springs period. I had eibach lowering springs on my honda when I was a kid and cv axle broke when I took a hard turn. The lowering springs threw off the whole drive train geometry of the vehicle which would make this prone to happening again if I left them on. Also the ride quality was horrible. Needless to say I sold the lowering springs and went back to stock.