You can always save $$$ by getting a cheap case. A lesser PSU might help if you dont need all 650 Watts. You can get a smaller HDD for less and if you arent dead set on Intel an AMD 6 core for less than the i5. Which would probably mean a slightly cheaper Mobo too as AM3+ mobos are just a tad cheaper than Intel 1155 most of the time.
Cheaper generally means less performance. You need to figure out where you draw the line and buy accordingly.
I will just buy it in the summer since the next series of AMD Radeons will come out and the price will drop, but even more in the summer since I have no time to build the computer right now and I will be off than.