Waxing is a bad idea... If you're really desperate you can go with tweezers. Either way you're going to end up with some painful (and ugly!) in-grown hairs, so I don't recommend it.
The hair-growth stopping stuff is Vaniqa (I think), but it's a bit of a hamster wheel because as soon as you stop using it your hair grows back like normal, and it's like 30-60 USD per bottle (which I hear lasts about a month), so you're basically throwing money down the drain -- best to invest in laser/electro. Hopefully I can start laser soon myself, I too am afflicted with the shadow-before-I'm-done-shaving problem.