Arduino: Breadboards and PCBs
You can build your project on stripboard (aka Veroboard, which is a particular brand). The wiki page at http://en.wikipedia.org/wiki/Stripboard covers most of the salient points - it is essentially a generic PCB. You can cut tracks, either with a knife, or a specialized tool, and you can solder your parts on to the tracks.

They come in various configurations - my personal preference is just straight strips - and you can cut them to size with a hacksaw.

If your project is non-trivial, you might still like to spend some time working out a decent layout. There are free, and not quite free, products to help you - I use Kicad, which is free &amp; opensource, there are many others.

I have also used stripboard to group a few components together - for example, 2 7-segment displays and two SIPO chips to run them - this can then be a "component" for future bread-board projects.