I've seen lots of threads on how to convert a Saxon jacket into a kilt jacket but what I want to know is what is the most effective and least expensive way to alter a jacket specifically made to wear with a kilt?

I have a black wool Argyle jacket that is really to large for me. I want to have the body taken in and the sleeves shortened but I don't want to spend as much to have the thing altered as I paid for the jacket in the first place. Any ideas?