Fortunately, I have always been very budget conscious so our spending hasn't had to change very much. However, we were never extravagant to require much be cut back.
Several years ago, Fi and I decided we wanted to start making the necessary financial steps to allow for a cushy retirement. We're still in our mid-twenties, but we would like to be in a position where we do not have to work well into our 60's. We no longer charge anything. I still have school loans so that maintains my credit score and we opened a line of credit at our bank in Fi's name that we pay our rent with monthly and then have it auto-deposit back to the line from our paychecks.
We manage to put away at least 25% of our income each month. Some months more. On a triple pay month, the entire 3rd checks go into savings.
That's no to say that we haven't cut back.
I used to get my nails done every two weeks and I no longer do that. My mom became my hair colorist for several years, but with the upcoming wedding I did start going to a stylist again.
We don't go out to movies anymore. Once in a blue moon we'll hit a matinee for the cheaper price, but we also rent from netflix which is more than enough.
In lieu of bars, dave and busters, etc. etc. ... We each keep a bottle of our favorite liquor at home and subscibe to World of Warcraft and play together at home. Dorky, I know, but it works.
For the wedding, we are going with almost everything from the "free" package. Our invitations were from vista print and very inexpensive and for our later AHR we are having a very casual BBQ and grilling the meats ourselves.
Our goal is to save enough to be able to put 30-40% down on a house in a few more years. We want to build a log cabin. By settings goals for saving money and making larger purchases, I feel less like we're sacrificing things and more like we are planning for our futures.