Well, I believe that 37.5 is the lowest dose that Effexor comes in, but that said, it's best to do it with the guidance of your physician. Since Effexor affects both Serotonin and Norepinephrine, it has some side effects that regular SSRI antidepressants don't have. It's best to decrease gradually and if you notice side effects, call your doctor. S/he may have you take one every other day for a while and then discontinue altogether. Please don't cut the pill in half or break the capsule to try to make the dosage less (there are some websites out there where people talk about doing that)!
Thanks - I hope this answers your question,