The simplest way is to save the original value using data() when the element gets focus. Here is a really basic example:
JSFiddle: http://jsfiddle.net/TrueBlueAussie/e4ovx435/
$('input').on('focusin', function(){
    console.log("Saving value " + $(this).val());
    $(this).data('val', $(this).val());
});
$('input').on('change', function(){
    var prev = $(this).data('val');
    var current = $(this).val();
    console.log("Prev value " + prev);
    console.log("New value " + current);
});
Better to use Delegated Event Handlers
Note: it is generally more efficient to use a delegated event handler when there can be multiple matching elements. This way only a single handler is added (smaller overhead and faster initialisation) and any speed difference at event time is negligible.
Here is the same example using delegated events connected to document:
$(document).on('focusin', 'input', function(){
    console.log("Saving value " + $(this).val());
    $(this).data('val', $(this).val());
}).on('change','input', function(){
    var prev = $(this).data('val');
    var current = $(this).val();
    console.log("Prev value " + prev);
    console.log("New value " + current);
});
JsFiddle: http://jsfiddle.net/TrueBlueAussie/e4ovx435/65/
Delegated events work by listening for an event (focusin, change etc) on an ancestor element (document* in this case), then applying the jQuery filter (input) to only the elements in the bubble chain then applying the function to only those matching elements that caused the event.
*Note: A a general rule, use document as the default for delegated events and not body. body has a bug, to do with styling, that can cause it to not get bubbled mouse events. Also document always exists so you can attach to it outside of a DOM ready handler :)