What is the best way to save cash to later start up a company? as a software consultant in SF?

Let's say you have a good billing rate of $100-$200/hr and you want to put away as much cash as possible. It's clear you need to live lean, but what about other tactics or strategies?

I read online that you can set up an S-Corp and take a small salary, and then have larger pass through dividends. One article suggested that on $90k a year in billings you might save $6k in taxes, with $200k in billings that might add up to say $14k if I have done the math right.

Since this is a group of really smart people, what other Saving Hacks do you suggest to fiscally prepare to start a company?