Shaving is the fastest and cheapest way, and for small areas, it is very easy to do it daily in the shower.
Depilatory cream/foam such as Nair is cheap. However, I have never had good luck with this method. The rumor is that hair removed in this manner will appear to come back more slowly, but it probably will only buy you a couple days over the shaving method.
As you know, plucking is also cheap, but slower and more painful. However, the hairs take longer to grow back than with shaving. It is difficult to do yourself for hard-to-reach areas, though.
Waxing is certainly an option (sort of like plucking en-masse), but it could be a bit painful in the nipple area. Also with waxing, there is a tendency for ingrown hairs, which can be painful as well. It is possible to do you own waxing and save a bit of money, but for hard-to-reach areas it would be better if you go to a full-service salon. People say that hair growth removed by waxing can stay clean for a month or more, but I did not find that to be true for me. The reason is--waxing only removes the hairs that are above the skin surface at the time of treatment. While those particular follicles are "cleaned" by waxing, other follicles around those areas have hairs waiting to pop out. Also, follicles that did not have hairs in them before can "activate".
The best hair removal methods are considerably more expensive--laser hair removal or electrolysis. However, I have had the best luck with these. With laser treatment, in the long run I actually save money over having continual salon services. One drawback--it works best for dark hair on light skin. Electrolysis does not have this restriction, but it is a slower process.