id like to lower my tbird, take off around 1 1/2in off or so, nothing crazy. whats the best cheapest way to do this. and how munch am i looking at, (labor included)?

Eibach springs offers a very practical application, and they run about $230 for 4. That should lower it to where you want it, and with labor, it might be $500 (including parts).

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02 Ford Mustang GT
4.6 L - 2V - 5 speed
thunderhorse

The cheapest of all cheap ways to lower your car would be cutting the springs, though if you did that your car wouldn't handle at all. The next best option would be springs, and I'm going to side with apollo and suggest Eibach. The price is right and it gets the job done right.

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2001 Chevrolet Monte Carlo SS
1993 Mercury Topaz GS coupe (soon to be deceased)

thanks for your help i think im going to lower it soon.

has anyone put coil springs on before? my dads going to show me how but he says its alot of work.

I haven't done coil springs but I did have to take a good chunk of my suspension apart when I was doing a motor swap, there's no getting around the fact that aside from the gas struts your coil springs are the inner most component of your suspension as far as things you need to take off to get to them. I can give you insight on ball joints, control arms and CV shafts, but too much beyond that with the suspension and you're out of my knowledge.
If you don't have one already I would suggest getting a Chilton's manual for your car, they have step by step instructions on what to take off, what bolts hold on what, and the torque specifications for when you're putting it all back together. Plus even after this job when you're working on other jobs with your car it could be a valuable tool.

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2001 Chevrolet Monte Carlo SS
1993 Mercury Topaz GS coupe (soon to be deceased)

I would highly recommend spring compressor tool. If you take the bolt off the top without holding that spring, the spring will release it's tension and you WILL get hit and possibly seriously injured or killed. Not to make anyone afraid of them. The compressors will release the tension and hold the springs for you, then you can take the strut out of the spring then release the compressor and install the new spring.
DO NOT CUT YOUR SPRINGS!!!! You are not smarter than the engineers. By cutting the springs you can weaken the integrity of the spring steel and the spring can collapse or even break. It's not a pretty sight to see when springs break, they tend to cause a LOT of damage. By cutting them you can also cause the springs to sag more than the other side, causing serious alignment issues. I would just recommend NEVER to cut or heat up your springs.

EIBACH makes a NICE spring kit for the Tbird. Less than 1k you can have a seriously since handling ride