Doing it already for free and have done so for past 5 years. It wasn't a quality of life decision, either. I was in grad school for awhile and didn't want to pay for cable in a effort to reduce costs. Then moved to Japan and had already gotten used to not watching TV, so didn't bother to pay for a limited number of English channels. What was surprising is when I went to visit my sisters and then getting bombarded by countless TV commercials. Holy fucking shit. It felt like an assault. The degree to which we have become inured to the commercials is surprising.
I'm not counting streaming Netflix as not watching TV. But, I'd give that up too for a year for 5k. Easily.