There are two approaches. One is to lower your cable bill, which is what I did, or completely stop the service. For as dishonest as they are, they deserve to have all customers simply walk away. The key to much of the lowering of the bill is actually using the cable company's internet service. In most cases it's fast and reliable and if you know what you need, you will be OK.
First, buy your own modem and give the cable company theirs back. I've seen fees as high as $25 per month eliminated by doing this.
Second, let me introduce you to a new term, "streaming". TV services named Hulu and CBS All Access and Sling TV are companies that give you many TV channels but they "stream" them over the internet. Let's go back to the three pipes idea regarding what's in your coaxial cable. Streaming sends the TV signals down the internet, the same as AOL and all the other websites. So the TV pipe in your cable goes silent and you save $120 dollars per month. All of your TV channels are now coming across the internet pipe thru these other services. Yes your internet pipe is more active and you are using more data now but you are getting the same channels or nearly so. I say nearly so because the streaming service that you choose will now determine what channels you get.
For instance, I get CNN, Fox, TNT, Turner Movies, National Geographic, cooking Channel, Cartoon Network and on and on (and I still don't watch many of them for $15 per month. My net savings is therefore $120 minus $15 a month for my streaming service. Getting fancy here you can get all of the streams including your local channels for about $60 and they even throw in an unlimited DVR! So getting everything will only save you about $60 per month. Your choice though!