First build ever, how to make cheaper?

PCPartPicker part list / Price breakdown by merchant / Benchmarks

CPU: Intel Core i5-3570K 3.4GHz Quad-Core Processor ($189.99 @ Microcenter)
CPU Cooler: Cooler Master Hyper 212 Plus 76.8 CFM Sleeve Bearing CPU Cooler ($19.99 @ Newegg)
Motherboard: ASRock Z77 Extreme4 ATX LGA1155 Motherboard ($119.99 @ Amazon)
Memory: G.Skill Ripjaws X Series 8GB (2 x 4GB) DDR3-2133 Memory ($49.99 @ Newegg)
Storage: Samsung Spinpoint F3 1TB 3.5" 7200RPM Internal Hard Drive ($88.98 @ Newegg)
Video Card: Sapphire Radeon HD 7850 1GB Video Card ($169.98 @ Newegg)
Case: Corsair 500R White ATX Mid Tower Case ($74.99 @ NCIX US)
Power Supply: Corsair Professional 650W 80 PLUS Bronze Certified ATX12V / EPS12V Power Supply ($89.99 @ NCIX US)
Total: $803.90
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2012-12-26 22:22 EST-0500)
 
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.