<script>
    $(document).ready(function(){
        $('#myInputElement').bind('change', function(){
            //var oldvalue = ???
            var newvalue = $(this).val();
        });
    });
</script>
<input id="myInputElement" type="text">

<script>
    //look no global needed:)

    $(document).ready(function(){
        // Get the initial value
       var $el = $('#myInputElement');
       $el.data('oldVal',  $el.val() );


       $el.change(function(){
            //store new value
            var $this = $(this);
            var newValue = $this.data('newVal', $this.val());
       })
       .focus(function(){
            // Get the value when input gains focus
            var oldValue = $(this).data('oldVal');
       });
    });
</script>
<input id="myInputElement" type="text">

<script>
    $(document).ready(function(){
        $('#myInputElement').bind('change', function(){
            var newvalue = $(this).val();
        });
        $('#myInputElement').blur(function(){
            $('#myHiddenInput').val($(this).val());
        });
    });
</script>
<input id="myInputElement" type="text">

<script>
    $(document).ready(function(){

        var newValue = $('#myInputElement').val();
        var oldValue;

        $('#myInputElement').change(function(){
            oldValue = newValue;
            newValue = $(this).val();
        });
    });
</script>
<input id="myInputElement" type="text">

// regular
$(elem).data(key,value);
// 10x faster
$.data(elem,key,value);

$('#myInputElement').change(function(event){
        var defaultValue = event.target.defaultValue;
        var newValue = event.target.value;
    });

$(document).ready(function() {
    $("input[type=text]").change(function() {
        $(this).data("old", $(this).data("new") || "");
        $(this).data("new", $(this).val());
        console.log($(this).data("old"));
        console.log($(this).data("new"));
    });
});