I don't. As far as I know, it's an all or nothing proposition. However, you can go into Settings > Battery and see what is causing the biggest drain on your battery. For me (and most everybody, I'd imagine) it's the screen.
Regarding location services though, if it's eating up more battery than you'd like, you can adjust it somewhat to preserve battery (at the expense of more precise location tracking) by going to Settings > Location and adjusting the mode. Right now, mine's set to High (which I'm assuming is default, since I haven't touched it), but there are "Battery Saving" and "Device Only" modes that should reduce the hit on your battery.
Also, if you're willing to root the device, there's an app called
Greenify that's supposed to work wonders for your battery. My battery life hasn't been too bad (I'm in the moderate range for usage, so I've been getting about 12-15 hours on a charge), so I haven't downloaded it personally, but it's highly rated in the Store, and I've heard a lot people speak highly of it.