Kenny Johnson, a senior credit analyst for Fox Home Entertainment in Garden Grove, Calif., recently took a hard look at his finances — and canceled his cable television subscription.

With a newborn child at home and growing household expenses, he says the decision saved him and his wife more than $40 a month — or roughly the increase he is paying at the gas pump every month for his commute to work.

The couple held onto their DSL Internet connection, which costs about $38 a month.

Now the Johnsons access most of their television shows online through Web sites like Hulu.com, in addition to the free broadcasts they pick up over the airwaves.

They also bought a set-top box that allows them to stream shows via Netflix.com to their television set, including episodes of NBC's "The Office" and Showtime's "Weeds."

"To me, it looks just like my cable," Mr. Johnson says.

In the past two years, nearly every major network show and many of the biggest cable programs have become available on the Internet.

The virtual library of content includes everything from "Desperate Housewives" and "CSI" to "The Colbert Report" and "Mad Men."

• Click here to read the rest of this story in the Wall Street Journal.

• Click here for FOXNews.com's Personal Technology Center.