I probably differ from a lot of people in the fact that there are very few programs I actually watch on live TV. My main staple is The Today Show in the mornings. If I want to watch a movie or TV show, I can usually find something on Netflix to suit my mood. Since I was already very familiar and satisfied with Netflix, my only concern when deciding to go cable free, was being able to watch my beloved news show in the mornings.
I figured the solution would be easy. I was sure a nice TV antenna would solve all of my local channel needs. WRONG. Only after trying every indoor TV antenna known to man and getting absolutely NO CHANNELS did I discover this website: http://www.antennaweb.org. It has a nifty little form where you can put in your address and it will tell you based on your location and surrounding terrain, what kind of TV antenna is best for you. Know what my results were? -- If I wanted to install an outdoor antenna at least 30' above ground level, I could get one channel: PBS. No Thanks.
So in a nutshell, with Netflix and Aereo, I pay $15.98 per month for my TV viewing privileges. That's not too bad considering the average cable bill is $80-$90 per month.
I'm happy because I can watch my morning show. The kids are happy because they have an abundance of kid-friendly programs. Best of all, my bank account is happy because I'm saving it's contents and not wasting it on channels that I never take time to watch...
Take THAT cable!