Calorie Limit or Eat Back Exercise Cals?

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I'm just wondering what people recommend as far as eating at a certain calorie limit every day or aiming for a net goal and eating back exercise calories.

I am female, 5'4", 24 y/o and weigh about 118. I only want to lose like 5 pounds or so but I'd really like to lose some fat in my upper thighs and lower abdomen. I've calculated by BMR (1365) and my TDEE (2327 based on 5-6 hrs strenuous exercise per week... I do P90X six days and HIIT 3 days).

I'm wondering whether it would be more beneficial for me to eat at a consistent deficit around 2000 calories per day or simply aim to net 1400 or 1500, eating back my exercise calories.

What works for you guys? I'd especially like to hear from people around my size who have similar goals. Thanks in advance!

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