How To: Reduce quality on audio tracks to sound like phone

Take a look at this instructional video and learn how to reduce quality on audio tracks to make it sound as if it's coming from a phone.
This tutorial shows you how to produce this effect with two separate programs: Sony Vegas 6.0 Pro and Audacity. Whenever you are done creating the effect you can easily lower the volume with the track volume or with the volume envelope if you used Sony Vegas.