SD_Adonis offered some good advice there. Another alternative to that, which I've used on many occasions and is actually quite enjoyable is, doing low carb all week, and they eating high-carb (basically pigging out) on the weekends. It's pretty much the protocol of the Metabolic Diet by Dr. diPasquale.
You don't even workout on the weekends. However, you'd want to do your toughest workout on Monday, coming off all the carbs from the weekend. Your strength will be through the roof. But as the week progresses, it will drop quickly.
I followed this type of program for about 9-10 months last year and dropped about 30 lbs of fat with very minimal muscle loss.